Indo Rama Synthetics swings to profit in Q3
The company, which is the country's largest dedicated polyester manufacturer, had posted a net loss of Rs 32.11 crore for the corresponding quarter in the previous year.
By PTI | Updated:
NEW DELHI: Textiles firm Indo Rama Synthetics (India) today posted a profit after tax of Rs 1.83 crore for the third quarter ended December 31, 2012, on the back of various operational measures taken during the quarter.
The company, which is the country's largest dedicated polyester manufacturer, had posted a net loss of Rs 32.11 crore for the corresponding quarter in the previous year.
For the quarter ended December 31, 2012, the net sales stood at Rs 703.52 crore as compared to Rs 768.84 crore for the corresponding quarter in the previous year, Indo Rama Synthetics (India) said in a statement.
"...There are lots of initiatives the company has taken to enhance operational efficiency in the current financial year to ensure sustainable growth year on year," Indo Rama Synthetics Chairman and Managing Director O P Lohia said.
He added that the payoff from the company's cost optimisation projects and improvement in overall economic environment should help it deliver better performance in the coming quarters.
Shares of Indo Rama Synthetics today closed at Rs 25.65 on the BSE, up 1.79 per cent from their previous close.
The company, which is the country's largest dedicated polyester manufacturer, had posted a net loss of Rs 32.11 crore for the corresponding quarter in the previous year.
For the quarter ended December 31, 2012, the net sales stood at Rs 703.52 crore as compared to Rs 768.84 crore for the corresponding quarter in the previous year, Indo Rama Synthetics (India) said in a statement.
"...There are lots of initiatives the company has taken to enhance operational efficiency in the current financial year to ensure sustainable growth year on year," Indo Rama Synthetics Chairman and Managing Director O P Lohia said.
He added that the payoff from the company's cost optimisation projects and improvement in overall economic environment should help it deliver better performance in the coming quarters.
Shares of Indo Rama Synthetics today closed at Rs 25.65 on the BSE, up 1.79 per cent from their previous close.
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