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

Rick Helfenbein (left), president and CEO of AAFA, with Juan Estrada, chief of party, Hub; Courtesy: Hub

Apparel/Garments | On 23rd Feb 2017

AAFA inks agreement for best manufacturing in East Africa

The American Apparel & Footwear Association (AAFA) has entered into a ...

Mango vice-chairman and member of the board of directors Daniel Lopez (L) with Ananth Narayanan, CEO, Myntra & Jabong. Courtesy: Myntra

Apparel/Garments | On 23rd Feb 2017

Mango awards distribution & management rights to Myntra

Mango, the Spanish fast fashion brand, has awarded its master...

Courtesy: IUCN

Apparel/Garments | On 23rd Feb 2017

Synthetic clothes should shed fewer fibres: IUCN report

Synthetic clothes should be designed in a manner that it will shed...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Johan Berlin
InvestKonsult Sweden AB

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Rupa Sood and Sharan Apparao
Nayaab

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search