VTM has reported results for third quarter ended December 31, 2013.
The company has reported 51.46% fall in its net profit at Rs 1.82 crore for the quarter as compared to Rs 3.75 crore for the same quarter in the previous year. However, total income from operations of the company has increased by 30.18% at Rs 45.33 crore for quarter under review as compared to Rs 34.82 crore for the quarter ended December 31, 2012.
VTM was incorporated in 1947. The company's plant is located in Virudhunagar. Even though it is not designated as an export-oriented mill, 90-93% of the production is exported. The company is a well-established group with unique capabilities that allow it to cater to exotic constructions in weaving. It has also expanded its capabilities to include special weaves and combinations.