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Indo Rama posts twenty-fold growth in Q4 profit
26 Apr '11
1 min read
Net profits of the second largest polyester producer, Indo Rama Synthetics (India) surged twenty times to Rs 1.0068 billion in the fourth quarter ending March 31, 2011, compared to the same period in the previous fiscal year.
Indo Rama had reported a net profit of Rs 50.3 million in the same quarter of the previous fiscal year.
Gross sales rose to Rs 9.20 billion in the period January to March 2010-11, against Rs 6.68 billion in the fourth quarter of 2009-10.
Indo Rama has attributed the surge in profits to better realizations as the polyester business witnessed a better demand-supply balance, helped by firm cotton prices.
Its focus on cost control and efforts to increase internal value-addition also helped in increasing the bottom line, said Indo Rama.
Indo Rama had reported a net profit of Rs 50.3 million in the same quarter of the previous fiscal year.
Gross sales rose to Rs 9.20 billion in the period January to March 2010-11, against Rs 6.68 billion in the fourth quarter of 2009-10.
Indo Rama has attributed the surge in profits to better realizations as the polyester business witnessed a better demand-supply balance, helped by firm cotton prices.
Its focus on cost control and efforts to increase internal value-addition also helped in increasing the bottom line, said Indo Rama.
Fibre2fashion News Desk - India
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