Sutlej Textiles Q3 net profit jumps 290% to Rs 24.7 cr
The company has recorded a turnover of Rs 409.1 crore for the quarter ended December 2012, an increase of 15%.
By OUR BUREAU |
New Delhi: Sutlej Textiles and Industries Ltd has recorded a turnover of Rs 409.1 crore for the quarter ended December 2012, an increase of 15%, compared to Rs 356 crore achieved during the corresponding previous quarter. The company’s net profit jumped by 290% during the quarter under review to Rs 24.7 crore from Rs 6.3 crore in the corresponding quarter.
Commenting on the financial results, C.S. Nopany, Chairman, Sutlej Textiles and Industries Ltd, said: “I am happy to report that for Q3 of FY 2012-13, Sutlej Textiles has been able to perform well because of various initiatives taken in the last few years. The performance of the textile sector has now improved. Domestic market spending on apparel has increased mainly due to increase in per capita consumption. This trend is likely to continue in future.”
Sutlej Textiles and Industries has a spinning capacity of 2.60 lakh spindles at its two spinning units at Bhawanimandi (Rajasthan) and Kathua (J&K). It also has a capacity to produce 4.9 million metres of fabrics, 2.5 million metres of home textiles, 1.6 million pieces of trousers and 20 million metres of fabric processing per annum at Bhilad (Gujarat).
The board of directors of Sutlej met in Mumbai to consider and approve the unaudited financial results for the quarter and nine months ended 31st December, 2012.
Commenting on the financial results, C.S. Nopany, Chairman, Sutlej Textiles and Industries Ltd, said: “I am happy to report that for Q3 of FY 2012-13, Sutlej Textiles has been able to perform well because of various initiatives taken in the last few years. The performance of the textile sector has now improved. Domestic market spending on apparel has increased mainly due to increase in per capita consumption. This trend is likely to continue in future.”
Sutlej Textiles and Industries has a spinning capacity of 2.60 lakh spindles at its two spinning units at Bhawanimandi (Rajasthan) and Kathua (J&K). It also has a capacity to produce 4.9 million metres of fabrics, 2.5 million metres of home textiles, 1.6 million pieces of trousers and 20 million metres of fabric processing per annum at Bhilad (Gujarat).
The board of directors of Sutlej met in Mumbai to consider and approve the unaudited financial results for the quarter and nine months ended 31st December, 2012.
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