VTM announced that it has signed a memorandum of understanding (MoU) with the Tamil Nadu Government, planning to invest Rs 50 crores over two years in the textile sector.
The investment will focus on cotton grey fabric and home textile manufacturing in the Madurai and Virudhunagar districts, creating around 50 jobs, including 40 direct and 10 indirect positions.VTM is engaged in weaving and specializes in manufacturing fine-count fabrics with complex specifications.
The companys standalone net profit tumbled 76.3% to Rs 2.32 crore on a 22.8% rise in revenue from operations to Rs 89.88 crore in Q2 FY26 over Q2 FY25.
Shares of VTM shed 1.10% to Rs 70.79 on the BSE.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app