Home / Knowledge / News / Textiles / Suryalata Spinning Mills profitability takes a hit in H1
Suryalata Spinning Mills profitability takes a hit in H1
06
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

Equate posts best Q12018 results since inception

Textiles | On 21st May 2018

Equate posts best Q12018 results since inception

Equate Group's first quarter results for 2018 are the best since its...

Maharashtra govt to help textile units set up solar plants

Textiles | On 21st May 2018

Maharashtra govt to help textile units set up solar plants

The state government of Maharashtra has formed a panel to help set up ...

Over 60% retailers already have IoT platforms: IDC

Apparel/Garments | On 21st May 2018

Over 60% retailers already have IoT platforms: IDC

Retail organisations are adopting IoT platforms and more than 60 per...

Interviews View All

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Dharmendra Shah
Ozone PB Spintex Limited

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

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Ravindra Jain, Ashish Baid

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

Giorgio Mantovani
Corman S.p.A

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

Kerem Durdag
Biovation II LLC

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search