The Kanpur-based integrated textile company, Shri Lakshmi Cotsyn, has posted a net profit of Rs. 208.3 million during the quarter ended September 30, 2011, compared to its net profit of Rs. 232.4 million recorded during the corresponding period of last year, showing a decline of nine percent.
The dip in net profit margin is mainly attributed to tax provision of Rs. 130 million, including deferred tax.
Net sales of the company, however, rose to Rs. 4.782 billion during the July-September quarter, as against the net sales of Rs. 4.159 billion achieved during the same period last fiscal, registering a jump of 15 percent.
The company has recently ventured into technical textile segment, which is the key factor behind the growth in its sales. It expects more opportunities in future due to the increasing focus of the Government on this segment.
Shri Lakshmi Cotsyn Ltd is one of the premier manufacturers of home furnishing products and enjoys the competency in manufacturing denim fabric, terry towels, bed linen, cotton fusible interlining, embroidered fabric, technical textile products and ballistic products.
Fibre2fashion News Desk - India
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