Home / Knowledge / News / Textiles / Indorama Ventures Q3 net profit rises 121%
Indorama Ventures Q3 net profit rises 121%
18
Nov '15
Despite a decrease of 2 per cent year-on-year in the total revenue, Indorama Ventures Limited (IVL), a global leader in petrochemicals and wool yarns, recorded a surge of 121 per cent in its net profit for third quarter of 2015.

The increase in net profit was owing to several factors like a change in the product range, an overall increase in the volume of production and a wider reach in terms of geography, according to a press statement issued by the company.

IVL's total revenue for Q3 2015 was THB 62,603 million (approximately $1.740 billion) for Q3 2015, and the net profit recorded for the quarter is THB 1,811 million ($50.258 million).

Elaborating the reasons for the increase in net profit, Aloke Lohia, Group CEO of IVL said, “The product mix changed as a result of our global acquisition strategy's focus on higher value-added businesses. Our timely acquisition of Performance Fibers earlier this year led to an improvement in the bottom-line and strengthened our portfolio, leading to better performance even during the traditionally-low season.”

“The consolidation of the industry and improved supply chain costs – caused by lower oil prices and a strong dollar – assisted us in growing profit. We will continue to increase our global footprint and scale of production to meet the needs of major global brands which are not seeing less demand,” he said.

EBITDA at IVL also increased by 43 per cent to THB 6,091 million ($169.049 million). (MCJ)

Fibre2Fashion News Desk — India

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search