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.
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