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Sutlej Textiles Q1 net profit declines
29 Jul '11
1 min read
Sutlej Textiles and Industries Ltd (STIL) has posted a decline in its net earnings during the first quarter of the current fiscal 2011-12.
The net profit of the company dropped to Rs. 137 million, against a net profit of Rs. 155 million achieved during corresponding period last fiscal, registering a year-on-year fall of 11.61 percent.
The net sales of the company, however, rose from Rs. 3.487 billion achieved during April-June 2010 to Rs. 4.138 billion this year during the quarter ended June 30.
STIL Chairman CS Nopany said that the textile sector is passing through a difficult phase owing to significant fall in raw material prices, which is creating a kind of indecisiveness amongst buyers.
He expressed happiness that in the first quarter, the company has managed to tide over the effects of depressed markets and is now ready to face the challenges that adverse market conditions pose.
STIL is an integrated player in the textiles industry with a value chain extending from yarn at one end and extending to fabric, home textiles and garments on the other.
The net profit of the company dropped to Rs. 137 million, against a net profit of Rs. 155 million achieved during corresponding period last fiscal, registering a year-on-year fall of 11.61 percent.
The net sales of the company, however, rose from Rs. 3.487 billion achieved during April-June 2010 to Rs. 4.138 billion this year during the quarter ended June 30.
STIL Chairman CS Nopany said that the textile sector is passing through a difficult phase owing to significant fall in raw material prices, which is creating a kind of indecisiveness amongst buyers.
He expressed happiness that in the first quarter, the company has managed to tide over the effects of depressed markets and is now ready to face the challenges that adverse market conditions pose.
STIL is an integrated player in the textiles industry with a value chain extending from yarn at one end and extending to fabric, home textiles and garments on the other.
Fibre2fashion News Desk - India
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