S Kumars net rises 70%

CORPORATE SCORECARD

S Kumars Nationwide (SKNL), a diversified textile firm, has posted an increase of 70.5 per cent in its net profit to Rs 42.66 crore for the quarter ended June 30 compared with Rs 25.02 crore in the previous corresponding quarter. Its net sales grew to Rs 378.85 crore during the quarter compared with Rs 265.34 crore last year.

Nitin S Kasliwal, managing director, said, "The company has benefited from aggressive thrusts into readymade apparels, consumers textiles and retailing. We look forward to strengthen performance through the year."

He said, "The appreciating rupee aided us as we are not in the export market and we import from overseas. Realisation was better and our brand Reid & Taylor, the garment division and home textiles had a robust performance in the quarter which helped us put a good show."

Operating profit for the quarter rose 46 per cent to Rs 79 crore (Rs 51.38 crore).

"We expect the coming quarter will be equally robust as August onwards due to peak season demand. We will be launching one more brand in August and hope that domestic market will continue to strengthen," Kasliwal added.

The multi-fibre and multi-segment textile firm has brands which include Reid & Taylor, Belmonte and Carmichael House.