Home / Knowledge / News / Textiles / Q3FY16 sales at nylon producer GSFC soar 23.2%
Q3FY16 sales at nylon producer GSFC soar 23.2%
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

Apparel/Garments | On 21st Oct 2016

China’s garment retail sales grow 7.2% in Jan-Sept ’16

Retail sales of garments, footwear, hats and knitwear of Chinese...

Mike Preston, executive director of the Arkansas Economic Development Commission (AEDC), signing MoU with Tang from Suzhou Tianyuan Garments company. Courtesy: Government of Arkansas

Apparel/Garments | On 21st Oct 2016

Suzhou Tianyuan to open $20 mn garment factory in US

Suzhou Tianyuan Garments company, a Chinese manufacturer of casual...

Textiles | On 21st Oct 2016

Pakistan’s textile exports fall 5.96% y-o-y in Q1 FY17

The value of textile and garment exports made by Pakistan decreased...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Angelina Francesca Cheang

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Steve Cole
Xerium Technologies

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search