SEL H1 sales up 57% on strong demand

The company, engaged in the manufacturing, processing & trading of yarn, fabric, readymade garments and towels, has reported a consolidated net profit of Rs  31.58 crore in the first six months ended September 30, 2012.

During the six months under review, the company witnessed a 57.44 per cent growth in its total revenue which stood at Rs 2093.83 crore from Rs 1329.89 crore in the same period a year ago. Volumes were boosted by robust demand for the value-added yarn from Europe and rupee’s depreciation against the US dollar. The company has been ranked as the 10th largest in analysis of the Europe’s top 100 Yarn & Thread Suppliers.

Despite the global volatile environment, the company has posted strong growth for the second consecutive quarter in FY’14 as it remained committed to drive the business towards delivering consistent, competitive, profitable and responsible growth.

Meanwhile, the (Standalone) revenue from operations of the company stood at Rs. 1677.03 crore in H1, FY’14, as compared to Rs. 1141.42 crore during the previous year, a growth of 46.92 per cent year-on-year. The profit after tax (Standalone) stood at Rs. 42.61 crore for the six month ended 30.09.2013, as compared to Rs. 27.97 crore during the previous year, a growth of 52.37 per cent Y-o-Y.

Fibre2fashion News Desk - India