Home / Knowledge / News / Textiles / Both sales & profits down at Indo Rama Synthetics
Both sales & profits down at Indo Rama Synthetics
01
Nov '08
Indo Rama Synthetics (India) Limited, the country's largest dedicated polyester manufacturer, today announced its unaudited Q2 and H1 results for the financial year 2008-09.

YTD H1 FY09 net sales amounted to Rs.1291.42 crore, down by 4.78% and YTD EBIDTA stood at Rs. 81.90 crore. EBIDTA for the quarter ended September 30, 2008 was recorded at Rs 14.92 crore and the net sales for the quarter stood at Rs.488.36 crore, as compared to Rs. 669.36 crore in the corresponding quarter last year.

Net Loss for the quarter stood at Rs.6i.48 crore and YTD Loss at Rs.82.29 crore as against Net Profit of Rs.11.80 crore and Rs.14.07 crore last year.

In line with a difficult macro environment, the Company faced challenges and delivered a muted performance. A high degree of volatility in crude prices created apprehensions across the value chain compelling minimising inventories. In line with this view, IRSL chose to curtail production and liquidate inventories. The power business is, however, doing well and we expect the trend to continue.

Commenting on the Results, Mr. O.P. Lohia, Chairman and Managing Director, IRSL said, “The unexpected fall in the crude oil prices and downturn in the economy has affected the performance of the Company. While we are seeing a gradual improvement we believe the whole process will take some time to return to normal. We are optimistic about our power business and look forward for further improved performance in coming quarters”.

About Indo Rama Synthetics (India) Ltd:

Indo Rama Synthetics (India) Limited was established in India in 1992 with a commitment to quality and customer satisfaction. It's exposure to international operations gives it a competitive edge in adherence to global standards.

With the last expansion, Indo Rama's Butibori plant has become one of the largest single-location plants in the world, producing around 6,00,000 tonnes per annum of Polyester Staple Fibers, Filament Yarns, and Textile grade Chips.

Indo Rama Synthetics

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Dinaz Madhukar
DLF Emporio and DLF Promenade

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Giorgio Mantovani
Corman S.p.A

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search