Nahar’s second quarter profits up 46.65% - sportstextiles: Lea SportsTextiles

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Nahar’s second quarter profits up 46.65%

07/11/2006

India’s integrated textile company Nahar Industrial Enterprises Ltd. (NIEL), has posted a profit increase of 46.65% for the second quarter and a revenue growth of 35.17 %.

In light of opportunities available to the sector, the company is undertaking capital expenditure of Rs 814 crores ($181.6 million) to increase its textile capacity and reduce power costs by 2008. It expects that the same growth rate will be maintained following the proposed expenditure.

In order to capitalise on the rapidly growing retail sector, NIEL is floating a wholly owned subsidiary, Nahar Retail Limited, which will primarily look after the NIEL garment manufacturing and retailing business. The company is further increasing its retail presence and is planning to open 250 exclusive franchise outlets by the end of March 2007, with a target of 1000 outlets across India by March 2010.


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