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Phenomenal rise in Q2 net profit at Suryajyoti
26
Oct '10
Suryajyoti Spinning Mills Ltd., leading manufacturers of Yarn and Fabric posted a 877% rise In Net Profit at Rs.557 lakhs for the Quarter ended September 30th 2010. as compared to Rs. 57 lakhs in the corresponding period of the previous year.

The company's revenues soared to Rs. 8378 lakhs for the Quarter posting a rise of 29% as compared to Rs. 6479 lakhs in the corresponding period of the previous year.

The EPS of the Company has surged to Rs.3.45 compared to Rs.0.35 in the corresponding period of the previous year, resulting an increase of 886%.

Commenting on the results, Mr.:A K Agarwal, Executive Director, Suryajyotl Spinning Mills Ltd said, "We are seeing a strong demand environment across the Textile Sector and are extremely bullish about the future of Textile in the coming days. Our Exports are on constant growth constituting 40% of revenues and we are trying to penetrate into never geographies. The management is in the process of continuous expansion mode, modernizing its units frequently In order to match gl9bal standards & provide a 360 degrees satisfaction to our customers."

Suryajyoti Spinning Mills Limited started with 5,040 spindles in 1992, and gradually increased its capacity to 86,560 spindles. The Company produces a very high quality of yarn of international standards and exporting to various countries in all the product range viz. Cotton, Polyester spun, Poly Viscose blend, Poly Cotton blend and 100% Viscose spun, in count range of 16's to 80's. The Company has multi-locational Yarn manufacturing facilities at Burgul, Makthal and Rajapur in Mahabubnagar District in Andhra Pradesh, with a turnover of Rs.240 crores.

Suryajyoti Spinning Mills Ltd.

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