Sutlej Textiles and Industries Ltd recorded net profit of Rs.708 Million for the Half Year ended September 30, 2013 as compared to Rs.363 Million in the corresponding Half Year of last year registering an increase of 95.04%. The Net Profit increased by 51.06% as compared to immediate preceding quarter.
The revenue of the company is Rs.9349 Million for the half year ended September 30, 2013 as compared to Rs.8386 Million for Half Year ended September 30, 2012 showing an increase of about 11.48%. The EBIDTA is Rs.1498 Million for the half year ended September 30, 2013 as compared to EBIDTA of Rs.1112 Million for the Half Year ended September 30, 2012 showing a growth of 34.71%.
Both demand and realization were better in domestic market as well as in export market during Q2 of FY 14 and 1st half year of FY 14 compared to corresponding previous periods.
In order to cater to its ever increasing customer requirement, the company has undertaken expansion project at its Kathua (J&K) Unit with a capacity of 30672 spindles which will become fully operational during the Financial Year 2014-15 and will raise the existing capacity of 260488 to 291160 spindles.
Commenting on the financial results, Mr C. S. Nopany, Chairman, Sutlej Textiles and Industries Limited, said, “Overall performance of Sutlej in Q2 of FY 14 and 1st half of FY 14 is better as compared to corresponding previous year Q2 and 1st half. I am glad that Sutlej could achieve this performance despite increasing cost of raw-materials, wages, etc. due to better market conditions and continuous efforts to improve utilization and production and to minimize the cost. Going forward, macro-economic environment is uncertain on account of twin deficits, tight liquidity, persistent inflation and heightened volatility of the financial markets.”
Sutlej Textiles and Industries
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