Home / Knowledge / News / Textiles / Suryalata Spinning Mills profitability takes a hit in H1
Suryalata Spinning Mills profitability takes a hit in H1
Jan '14
Given the rise in double digit inflation, soaring raw material prices and fuel cost, Secunderabad-based yarns producer Suryalata Spinning Mills Limited continued to find trading conditions difficult in the first six months of current financial year ended September 30, 12013.
Profitability took a hit due to economic slowdown, higher consumer debts levels and tight lending standards.
Engaged in manufacturing of synthetic blended yarns of polyester and viscose, the company reported 25.09 per cent decline in its net profit for the six months ended 30 September 2013 at Rs 3.97 crore from Rs 5.30 crore in the same period a year ago.
Raw material and power cost, which constitute a significant percentage of the company’s total expenses, increased significantly to Rs 122.61 crore and Rs 16.70 crore respectively during H1 2013-14. 
During the six months under review, the company’s net sales rose by 38.25 per cent to Rs 171.58 crore from Rs 124.10 crore in the same period a year ago, driven by pickup in exports. 
As a result of which, total revenue of company stood at Rs 179.09 crore in the six months ended 30 September 2013, from Rs 134 crore in the same period a year ago amidst a improve in business climate in global economies.
With global market back on track of healthy growth, the company is poised to reflect sound growth both in the domestic and international markets in next six months of current fiscal, amidst revival in demand of yarns. 
In tune with the changing trend, the company has already further expanded its production capacity to meet the growing demand and is poised to increase turnover and profitability by 15 per cent to 20 per cent.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 9th Dec 2016

ACIMIT signs MoU with Pakistan textile bodies

In a bid to strengthen the trading in garments and textiles between...

Textiles | On 9th Dec 2016

‘Less demand may make it hard to achieve export target’

The $48 billion target for textiles and garment exports for 2016-17...

Textiles | On 9th Dec 2016

GST Council may decrease tax rates in future: CBEC

The goods and services tax (GST) Council might reduce the proposed...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Johan Berlin
InvestKonsult Sweden AB

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

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Robert Brunner

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

December 2016

December 2016

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


Browse Our Archives


Advanced Search