Home / Knowledge / News / Textiles / Q3FY16 sales at nylon producer GSFC soar 23.2%
Q3FY16 sales at nylon producer GSFC soar 23.2%
27
Jan '16
While, sales at nylon 6.6 fibre producer and Gujarat state owned entity, GSFC Ltd soared 23.24 per cent in the three months to December 31, 2015, net profit remained flat over a fiscal ago period.

In its financial statement released for the third quarter of fiscal 2016, GSFC said its revenue surged 23.24 per cent to Rs 1,615.04 crore as against Rs 1,309.39 crore in the prior fiscal's same quarter.

However, net profit for the reporting quarter stayed nearly steady at Rs 103.24 crore over the corresponding quarter of fiscal 2015, when it stood at Rs 103.47 crore.

Net profit stayed stable from a steep fall in other income, while finance costs soared 92.34 per cent and tax expense also witnessed a growth of 21.59 per cent.

Other income dipped to Rs 13.05 crore in the quarter under review from Rs 27.51 crore in the fiscal ago quarter, down a massive 52.56 per cent.

Finance costs at the Gujarat based nylon fibre manufacturer also drove up 92.34 per cent in the third quarter of fiscal 2016 to Rs 8.29 crore compared to Rs 4.31 crore in the third quarter of prior fiscal.

Tax expense also witnessed a growth of 21.59 per cent to Rs 52.20 crore in the three months to December 31, 2015 compared to Rs 42.93 crore in the similar quarter of earlier fiscal.

The growth in expense also kept pace with growth in net income, which too climbed 23.45 per cent year over year to Rs 1,464.36 crore in the third quarter of fiscal 2016.

Of which, cost of materials consumed rose 12.89 per cent to Rs 948.39 crore, employee benefit expenses 42.54 per cent to Rs 133.05 crore and other expenses 21.27 per cent to Rs 186.48 crore, all growing over last fiscal's same quarter.

Despite this, profit from operations before other income, finance costs and exceptional items surged 22.30 per cent in the reporting period to Rs 150.68 crore from Rs 123.20 crore.

Profit before financial activities and exceptional items too affected by the 52.56 per cent drop in other income declined to Rs 163.73 crore, down 8.63 per cent year on year.

Pre-tax profit grew at 6.17 per cent to Rs 155.44 crore as against Rs 146.40 crore in the three months to December 31, 2014. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Textiles | On 25th Sep 2017

SVP Group to build $300 mn spinning plant in Sohar

ShriVallabh Pittie Industries (SVP) Group, a diversified yarn...

Apparel/Garments | On 25th Sep 2017

Vietnam textile sector to gain if EU FTA gets ratified

Experts feel the Vietnam-European Union (EU) free trade agreement...

Courtesy: Business Wire

Textiles | On 25th Sep 2017

Invista to use ADN technology at joint project in France

Invista, a leading producer of chemical intermediates, polymers, and...

Interviews View All

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Steve Cole
Xerium Technologies

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Jay Ramrakhiani
Occasions Elegance Wear

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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

September 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search