Vardhman Textiles Q1FY24 result: Net profit falls 58% YoY to Rs 136 crore

The consolidated net profit of Vardhman Textiles Limited for the first quarter of the current financial year (Q1FY24) saw a fall of 58.53 per cent to Rs 136.47 crore, compared to Rs 329.12 crore for the corresponding quarter of the previous year, the company said in a BSE filing.

Sequentially, the net profit was down 14.02 per cent. In Q4FY23, the net profit of the company was Rs 158.74 crore.

The revenue from operations for Q1FY24 came in at Rs 2,318.30 crore, compared to Rs 2,811.83 crore year-on-year (YoY), which is a fall of 17.55 per cent.

On a quarter-on-quarter (QoQ) basis, the revenue for operations was down 6.73 per cent. It was Rs 2,485.61 crore in Q4FY23.

The total income for Q1FY24 came in at Rs 2,412.57 crore, compared to Rs 2,831.79 crore YoY, falling 14.8 per cent.

On a QoQ basis, the total income was down 5.78 per cent. It was Rs 2,560.75 crore in Q4FY23.

At 2 pm, the Vardhman Textiles Ltd stock was trading at Rs 346.55, down 1 per cent.