Home / Knowledge / News / Textiles / Sarla Performance Fibres delivers sterling Q1 results
Sarla Performance Fibres delivers sterling Q1 results
09
Aug '12
In the midst of an uncertain economic environment, Mumbai-based Sarla Performance Fibres has delivered impressive results. Revenues are up by a massive 34 percent and net profits are up 23.5 percent, both from a year ago in the quarter ended June 30, 2012.

Sales have surged from Rs 424.2 million in quarter ending June 2011 to Rs 568.5 million in the just ended quarter. Net profits too have jumped from Rs 30.6 million to Rs 37.86 million. However when compared to the previous quarter ending March 31, 2012, they have fallen by a huge 23.5 percent.

When quizzed about posting a 34 percent hike in Q1 revenues and 23.5 percent rise in net profits, Mr Mahen Sheth, CFO at Sarla told fibre2fashion, “There is an increase in the volume of sales coupled with the USD appreciation”.

In the reporting quarter, Sarla has provided for foreign exchange fluctuation loss of Rs 30.2 million compared to a loss of Rs 1.6 million in the previous period on account of re-instatement of Foreign Currency Assets and Liabilities. This however has no effect on the operational profit of the company.

The quarter also witnessed the head of ‘other expenditure’ skyrocketing to Rs 179.2 million from just Rs 109.8 million, up by a massive 63 percent. Despite all this, Sarla Fibres was able to deliver a sterling performance in the quarter.

Mr Sheth is also very optimistic and confident of maintaining the same pace in coming quarters. He also expects that there will not be any significant changes in the market trends in the next few quarters, unless there is political instability.

Since Sarla operates in a niche segment - high tenacity specialized yarns, so he does not expect their performance to be affected by other local or global factors. He is also of the opinion that the Rupee-USD exchange rate has stabilized as of now.

Sarla Performance Fibres is installing two more new windmills at Sangli in Maharashtra of 2 MW each, which are expected to be commissioned by next month. He anticipates that the revenue generated from these windmills will increase margins considerably.

Sarla Performance Fibers Ltd is a 100% EOU engaged in the manufacturing and export of polyester and nylon textured, twisted and dyed yarns, covered yarns, high tenacity yarns and sewing thread.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: India ITME

Textiles | On 8th Dec 2016

Industry needs to create 1cr jobs in 3yrs: Kavita Gupta

Sharing several initiatives laid out by the government in R&D,...

Textiles | On 8th Dec 2016

Package will boost made-ups sector: SIMA

The reforms package approved by the Union Cabinet to boost employment ...

Textiles | On 8th Dec 2016

Cabinet okays reforms to boost jobs in made-ups sector

The Union Cabinet chaired by prime minister Narendra Modi has given...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Dharmendra Shah
Ozone PB Spintex Limited

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

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Giorgio Mantovani
Corman S.p.A

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Silvia Venturini Fendi
Fendi s.r.l

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search