Home / Knowledge / News / Textiles / 9MFY14 core net skyrockets 129% at Indorama Ventures
9MFY14 core net skyrockets 129% at Indorama Ventures
Nov '14
Thailand based, Indorama Ventures Public Company Limited (IVL) said in the first nine months of fiscal 2014, its core net profit skyrocketed in triple digits, from the same period of previous fiscal year.

IVL, a producer of intermediate petrochemicals reported core net profit of THB 3.6 billion in the first nine months of fiscal 2014, up a staggering 129%.

The staggering hike in core net profit mainly came from dipping crude oil prices, a strong US dollar and a weakening Euro, Mexican Peso, Turkish Lira and Indonesian Rupiah.

Total revenues at ILV in the period under review rose 10% from the same period of fiscal 2013 to THB 189.3 billion, while core EBITDA expanded 32% to THB 14.4 billion.

“Higher volumes and sales primarily arose from acquisitions, debottlenecking projects, utilization rate improvements and the increased proportion of high value-added, or HVA, business,” IVL explained.

According to CEO Aloke Lohia, the rapid decrease in price of crude oil, the strong US dollar and low interest cost environment is a positive for the overall business.

The HVA segment contributed 21% of total volume, 33% of revenue and 40% of core EBITDA in the first nine months of fiscal 2014.

IVL said it is relatively more resilient and better hedged to crude oil volatility, which is reflected in its inventory gain of Baht 80 million in the third quarter this year.

The petrochemicals producer continued to lower its net operating debt to equity, bringing it down to 1.15 times as of September 30, 2014.

It slid further down to 0.73 times, following the successful placement of the company’s perpetual debentures at the end of October.

IVL successfully placed THB 15 billion on October 31, 2014, which, it said, is the largest ever perpetual debentures issued by a corporate in Thai Baht.

IVL added that, Thailand rating agency - TRIS, reaffirmed the company’s A+ Rating in October 2014.

"We are pleased with our first nine months’ results, an outcome of our relentless focus on delivering on our strategic priorities,” Aloke Lohia added.

He informed, “In future quarters, significant fall of crude oil is positive for demand in our PET and Fibers portfolio and for improving margins in the HVA portfolio." (AR)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th Oct 2016

Arvind to dilute 10% stake in brand business arm

Arvind Limited, one of India’s largest integrated textile and apparel ...

Courtesy: Commonwealth Bank of Australia

Textiles | On 25th Oct 2016

World’s first cotton shipment using Skuchain’s Brackets

The world’s first trade transaction involving shipment of cotton...

Textiles | On 25th Oct 2016

Cotton yield to increase to 568.29 kg/ha in 2016-17: CAB

At its first meeting for the cotton season 2016-17, the Cotton...

Interviews View All

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Siddharth Biyani
Mangalam Industries Pvt Ltd

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

Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Paolo Ocleppo
Sandvik Hyperion

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

Giorgio Mantovani
Corman S.p.A

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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

October 2016

October 2016

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


Browse Our Archives


Advanced Search