S Kumars Nationwide, leading textile company has announced that its net profit plunged by 7% during the quarter ended June 30, 2009.

The company said that it has recorded a net profit of Rs 51 crore during the quarter under review.

The company stated in a communiqué to Bombay Stock Exchange (BSE) that it had registered a net profit of Rs 55 crore in the corresponding period of previous fiscal.

However, company's net sales climbed to Rs 708 crore in the latest three month period against Rs 533 crore in the same period of previous year.

Stock of S Kumars Nationwide settled on Friday in green at Rs 41, up 5.52% on Bombay Stock Exchange (BSE). The total volume of shares traded on BSE was 1,279,816. (Friday)