Home / Knowledge / News / Textiles / Indorama Ventures Q3 net profit rises 121%
Indorama Ventures Q3 net profit rises 121%
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

Apparel/Garments | On 26th Oct 2016

SGS develops 4C chemical management model for apparel

SGS, a leading inspection, auditing, certification, testing, and...

Textiles | On 26th Oct 2016

Platinum Equity acquires International Textile Group

International Textile Group (ITG) has been acquired by Platinum...

Textiles | On 26th Oct 2016

Whitehouse & URI Business Centre start RI textile network

Senator Sheldon Whitehouse and the University of Rhode Island...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Larry L Kinn
Suominen Corporation

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Bani Batra

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search