Home / Knowledge / News / Textiles / Q2 FY'14 net profits up 9% q-o-q at SRF
Q2 FY'14 net profits up 9% q-o-q at SRF
13
Nov '13
SRF Limited, a multi-business entity engaged in the manufacture of chemical based industrial intermediates, reported a net profit after tax (PAT) of Rs. 48 crore during the second quarter of 2013-14, sequentially an increase of 9 per cent over Rs. 44 crore recorded during the previous quarter ended June 2013.

The prevailing economic slowdown coupled with forex loss against forex gain of last year, however, caused 37 per cent decline in the company’s PAT during the second quarter of the current financial year over the corresponding period last year (CPLY) when it had posted a PAT of Rs. 75 crore.

The company also absorbed a loss of Rs. 6.54 crore during the period against a gain of Rs. 41.54 crore during CPLY on account of foreign exchange fluctuations. SRF’s revenue, however, increased by 5 per cent from Rs. 804 crore to Rs. 844 crore during the same period year-on-year. The unaudited financial results of SRF were taken on record by SRF’s Board in a meeting held.

In meeting, the Board also approved an interim dividend at the rate of 30 per cent amounting to Rs. 3 per share. Reflecting on the financial performance of the company, Mr. Ashish Bharat Ram, Managing Director, SRF Limited, commented: “In a weak economic environment, the company has managed to do well. Operations across the board performed better than expectations. Having said that the economic conditions remain extremely challenging with low visibility. ”

Q2 Segment Results

While the segment revenue for the Technical Textiles Business grew by 4% from Rs. 435 crore to Rs. 453 crore, its operating profit increased by 43% from Rs. 33 crore to 47 crore during the quarter ended September 2013 over CPLY.

The Packaging Films Business recorded a growth of 12% in its segment revenue from Rs. 164 crore to Rs. 184 crore and a growth of 145% in its operating profit from Rs. 6 crore to Rs. 14 crore during the second quarter ended September 2013. The Chemicals & Polymers Business recorded a marginal increase in its segment revenue from Rs. 206 crore to Rs. 208 crore. The operating profit of the Chemicals & Polymers Business, however, declined by 17% from Rs. 42 crore to Rs. 35 crore during July-September 2013.

H1 Financials

In the first six months of 2013-14, the company’s revenue at Rs. 1669 crore increased by 3% over Rs. 1616 crore recorded during the same period last year. The net profit after tax (PAT) of SRF declined by 6% at Rs. 92 crore during April-September 2013 as against Rs. 97 crore posted during CPLY. The company’s profit from ordinary activities after finance costs but before exchange currency fluctuation and exceptional items, however, increased by 13% from Rs. 120 crore to Rs. 136 crore during the same period over CPLY.

SRF


Must ReadView All

GMAC urges Cambodia to push fabric-forward rule in RCEP

Apparel/Garments | On 17th Oct 2017

GMAC urges Cambodia to push fabric-forward rule in RCEP

Representatives from the Garment Manufacturers Association of...

Alibaba to invest $15 billion in DAMO Academy for research

Textiles | On 17th Oct 2017

Alibaba to invest $15 billion in DAMO Academy for research

Alibaba will invest $15 billion over the next several years in its...

Pressure on  Indian textiles exporters to ease by Q3: ICRA

Textiles | On 17th Oct 2017

Pressure on Indian textiles exporters to ease by Q3: ICRA

Pressures on the profit and debt levels of textiles exporters is...

Interviews View All

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

October 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
76.9%
No
13.8%
Skip
9.2%

Total Votes: 65

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
27.7%
Skip
10.8%

Total Votes: 65

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.6%
No
10.8%
Skip
4.6%

Total Votes: 65

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
73.8%
No
12.3%
Skip
13.8%

Total Votes: 65


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search