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

GST Council allows ITC refund to fabrics

Textiles | On 23rd Jul 2018

GST Council allows ITC refund to fabrics

The Goods and Services Tax (GST) Council at its 28th meeting held...

GST slashed on Chenille fabrics, knitted cap to 5%

Textiles | On 23rd Jul 2018

GST slashed on Chenille fabrics, knitted cap to 5%

The Goods and Services Tax (GST) on Chenille fabrics and other...

Courtesy: Pixabay

Textiles | On 23rd Jul 2018

Pakistan's textile exports up 8.67% in 2017-18

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Dinaz Madhukar
DLF Emporio and DLF Promenade

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

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Nitesh Mittal

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

Kerem Durdag
Biovation II LLC

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Silvia Venturini Fendi
Fendi s.r.l

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

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


Leave your Comments

July 2018

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

news category

Related Categories:

Advanced Search