Shares of Vardhman Textiles fell as much as 2% on Tuesday, July 22, in response to its June quarter results, which were lower on a year-on-year basis on most fronts.Revenue for the quarter increased by 3.3% from the year-ago period to ₹2,386 crore.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter declined by 6.4% on a year-on-year basis to ₹325.7 crore, while margins narrowed by over 100 basis points to 13.7% from 15% during the year-ago quarter.
The core textiles business saw revenue grow to ₹2,342 crore at the end of the June quarter, from ₹2,270 crore last year. However, the topline for this business is lower on a sequential basis. Earnings Before Interest and Tax (EBIT) for this segment declined both year-on-year, as well as sequentially.Acrylic Fibers, which is a smaller business, saw modest revenue growth year-on-year, while it remained flat sequentially.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter declined by 6.4% on a year-on-year basis to ₹325.7 crore, while margins narrowed by over 100 basis points to 13.7% from 15% during the year-ago quarter.
The core textiles business saw revenue grow to ₹2,342 crore at the end of the June quarter, from ₹2,270 crore last year. However, the topline for this business is lower on a sequential basis. Earnings Before Interest and Tax (EBIT) for this segment declined both year-on-year, as well as sequentially.Acrylic Fibers, which is a smaller business, saw modest revenue growth year-on-year, while it remained flat sequentially.
Shares of Vardhman Textiles are seeing volatile moves post the results announcement, currently trading 0.8% lower at ₹496.6. The stock has risen close to 7% in the last one month.
