Profit Climbs 11.8% At Suryalakshmi Cotton
Net profit at Suryalakshmi Cotton climbed 11.8 per cent year over year to Rs 7.75 crore in three months ended June 30, 2016, while earnings per share rose to Rs 4.65 from Rs 4.16.
For the first quarter of fiscal 2016-17, India’s third largest denim fabric maker recorded net revenue of Rs 190.33 crore as compared to Rs 187.36 crore in the prior fiscal’s second quarter, up 1.6 per cent.
Profit before interest, depreciation and tax stood higher by 9.8 per cent at Rs 29.12 crore as against Rs 26.52 crore in the same period of the previous fiscal.
According to the company, sales volume and profitability increased on the back of several process efficiencies at the plant, thereby reducing operating costs.
During the reporting quarter, new yarn variants were readied for launch at its spinning unit in Maharashtra, which will be used by the denim unit for developing premium and fashion-led fabrics.
A capacity of 2,000 units per day of ready-made garments is also being added, which will be operational by the end of current fiscal.