Home / Knowledge / News / Textiles / Indo Rama Synthetics massively narrows Q2FY15 net loss
Indo Rama Synthetics massively narrows Q2FY15 net loss
14
Nov '14
In the second fiscal quarter ending September 30, 2014, polyester producer Indo Rama Synthetics (India) Limited reported a massive decline in net loss, from a year earlier quarter.

Net loss dropped steeply to Rs 16.02 crore in the second quarter of fiscal 2014-15 from net loss of Rs 61.36 crore in the corresponding quarter of 2013-14.

Higher sales and better margins helped Indo Rama Synthetics, one of the biggest Indian polyester makers to narrow losses.

Revenue rose 15.61 per cent in the reporting quarter to Rs 716.81 crore compared to Rs 619.98 crore in the prior year quarter.

Operational EBIDTA at Rs.29.98 crore in the period under review was higher by 92.7 per cent vis-a-vis Rs 15.55 crore in the second fiscal quarter of 2013-14.

However, finance costs soared to Rs 11.55 crore from Rs 8.71 crore a year earlier, while net debt in the second fiscal quarter of 2014-15 amounted to Rs 190 crore.

OP Lohia, CMD said, “While the sentiment around business environment is showing signs of improvement, PTA duty structure is hampering growth of the polyester industry.”

He expects positive policy framework under the Make-In-India campaign and policy support in order to help the polyester sector showcase its capability and prowess.

Indo Rama Synthetics is India’s largest dedicated polyester manufacturer with an integrated manufacturing complex in Butibori near Nagpur in Maharashtra.

The complex has a production capacity of 610,050 tons per annum of polyester staple fibre, filament yarn, draw texturised yarn, fully drawn yarn and textile grade chips. (AR)

Fibre2fashion News Desk - India


Must ReadView All

'Sportswear is much more mainstream than earlier'

Fashion | On 20th Jul 2018

'Sportswear is much more mainstream than earlier'

The business of sportswear has evolved at a fast pace over the years. ...

Courtesy: YKK

Textiles | On 20th Jul 2018

Japanese firm YKK explores opening office in Uzbekistan

Japanese company YKK recently discussed with the Uztuqimachiliksanoat ...

HFPA alerts member firms on latest US tariff announcement

Textiles | On 20th Jul 2018

HFPA alerts member firms on latest US tariff announcement

The US Home Fashion Products Association (HFPA) has alerted its...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Top executives
Textile industry

It will take some time for the people to change their buying choices

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Shivani Swamy

The Livinguard Technology is owned by Green Impact Holding AG based in...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Giorgio Mantovani
Corman S.p.A

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

Steve Cole
Xerium Technologies

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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


July 2018

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

news category


Related Categories:

Advanced Search