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Nakoda witnesses 23% rise in revenue
09
Aug '10
For the quarter ending June 30, 2010, Nakoda Limited one of the biggest producers of fully drawn yarn, witnessed a strong rise in its revenue.

Nakoda recorded a rise in revenue by an exorbitant 23 percent to Rs 3.09 billion from Rs 2.51 billion, during the corresponding period last fiscal. The profit after tax for the quarter ending June 30, 2010, stood at Rs 77.6 million, leading to a hike of 39 percent, as compared to Rs 55.8 million in the same period last year.

Earnings for half year ending on June 30, 2010, also went up by 23 percent to Rs 6.02 billion from Rs 4.88 billion during the same period, last fiscal. Total profits during the half year rose considerably by 60 percent from Rs 96.6 million during the same period, last fiscal, to Rs 151.6 million.

Proceeds from the manufacturing sector too, increased by 26 percent to Rs 1.34 billion from Rs 1.06 billion, for the quarter under consideration. Within the trading sector, sales touched Rs 1.75 billion from Rs 1.45 billion, a rise of 21 percent.

As per BG Jain, Chairman and Managing Director, Nakoda Limited, the firm has once again attained excellent results. Currently, with the implementation of Phase-I of the firm's expansion plans and also with Nakoda's entry in to newer markets via the take over of the recent polyester plant in South Korea, through its subsidiary Indo Korean Petrochem Ltd, Jain and his firm are looking forward to non-stop and maintained growth in the future.

Fibre2Fashion News Desk - India

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