Nakoda Textiles net profit up 56% to Rs 3.58cr

Nakoda Textile Industries Ltd (NTIL) posted a robust 35 per cent growth in top line to touch 195.58 crore (YoY) for the second quarter ended June 30, 2008. The company’s EBITDA margin improved 98 basis points to 4.67 per cent as compared to the corresponding quarter last year. This was due to better realization on account of pricing and streamlining of the cost structure. Net profit (Profit after Tax) for Q2 CY08 was also up 56 % at 3.58 crore.

Commenting on the results Mr. B. G. Jain, CMD, NTIL, said “The capex that we have undertaken would provide us the requisite boost for sustainable growth in the future. Work on the capex is being accomplished as per schedule. We are confident of tripling our market share from the present 2 per cent in the POY business  on completion of capex.   

Sourced From: Adfactors Public Relations Pvt Ltd