Vardhman Textiles stock gains despite decline in Q1 production and sales

The company’s all products Yarn, grey fabric and processed fabric suffer in the Covid-19 hit Q1FY21.

Jul 29, 2020 12:07 IST India Infoline News Service

Vardhman Textiles Limited reported decline in production and sales of yarn, grey fabric and processed fabric for the quarter ended June 30, 2020. The quarter was hit by Covid-19 pandemic and lockdown imposed by the concerned authorities to prevent its outbreak.

The company stock is currently trading at Rs643, up by Rs8.05 or 1.27% from its previous closing of Rs634.95 on the BSE.

The company produced 31,066 metric tons of yarn in Q1FY21 compared to 51,416 in Q4FY20 and 51,139 in Q1FY20. The yarn sales also reduced by more than 40% to 29,789 metric tons in Q1FY21 than 53,155 in Q4FY20 and 51,312 in Q1FY20.

The production of grey yarn also declined to 183 lac meters in Q1FY21 than 496 in Q4FY20 and 513 in Q1FY20. The sales of grey yarn also saw decrease from 153 lac meters to 487 in Q4FY20 and 509 in Q1FY20.

The processed fabric production also declined to 125 lac meters in Q1FY21 to 340 in Q4FY20 and 327 in Q1FY20. Processed fabric sales fell to 116 lac meters in Q1FY21 than 325 in Q4FY20 and 328 in Q1FY20.

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