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Net profit up 78.01% in Q4 FY16 at Sutlej Textiles
13
May '16
Courtesy: Sutlej Textiles
Courtesy: Sutlej Textiles
India based yarn manufacturer, Sutlej Textiles reported a rise of 78.01 per cent in net profit in the fourth quarter of fiscal 2016, ended March 31, to Rs 48.81 crore as compared to Rs 27.42 crore in the previous fiscal.

Diluted earnings per share for the company stood at Rs 29.79 in Q4 of fiscal 2016 as compared to Rs 16.74 in Q4 FY15.

EBITDA recorded in the fourth quarter was Rs 77.16 as compared to Rs 68.04 in the previous quarter, a rise of 13.4 per cent.

Total income for Sutlej Textiles in Q4 of fiscal 2016 was Rs 558.27 crore as compared to Rs 477.91 crore in the previous quarter, a rise of 16.81 per cent.

Commenting on the results, CS Nopany, chairman of Sutlej Textiles said, “The financial year 2016 has been a challenging year due to global economic slowdown and stressed rural economy in the country.”

“Despite these challenging times, I am pleased that Sutlej due to its strategy of focusing on operational efficiency, organic and inorganic growth through capacity expansion – both in spinning and home textiles has reported increased revenues and profits during the year,” he said.

The board directors have recommended the highest-ever dividend in the history of the company of Rs 13 per equity share for the year ended March 2016. (MCJ)

Fibre2Fashion News Desk - India

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