Siyaram Silk Mills Limited (SSML), the leading producer of blended fabrics in India, has posted a 16.98 percent year-on-year decline in its net profit during the quarter ended December 2011.
During the October-December 2011 period, the company registered a net profit of Rs. 132 million, as against the net profit of Rs. 159 million achieved during the corresponding quarter of last fiscal.
The overall income of the company during the three-month period also fell marginally to Rs. 2.22 billion, compared to Rs. 2.28 billion achieved during the same quarter last fiscal.
For the first three quarters of current fiscal 2011-12, SSML has registered a net profit of Rs. 397 million, a year-on-year rise of 2 percent over Rs. 389 million of net profit achieved during the corresponding period of previous fiscal.
The firm achieved a total income of Rs. 6.476 billion during the first nine months of current fiscal, a 5.61 percent increase over the overall income of Rs. 6.132 billion during the same period of fiscal 2010-11.
SSML is one of the most renowned vertically integrated textile companies in India. Its in-house production facility consists of spinning, dyeing, weaving, finishing and apparel making. Its product range includes yarns, fabrics, home textiles and apparels, which is available in over 40,000 retail stores across the country.
Fibre2fashion News Desk - India
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