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Q3FY17 net surges 35% at Sutlej Industries
13 Feb '17
1 min read
Net profit at CS Nopany led Sutlej Textiles and Industries Ltd, surged 35 per cent year over year to Rs 125 crore in the nine month period ending December 31, 2016. Sutlej recorded a 10 per cent increase in total income at Rs 1,675 crore in the reporting period, while EBITDA amounted to Rs 249 crore, up 13 per cent over the comparable period of prior fiscal.
“The domestic market has seen a sharp decline in demand due to demonetisation in the third fiscal quarter, consequently, margins have been under severe pressure, and this is likely to continue into the fourth quarter,” chairman CS Nopany said. “The impact of demonetisation, however, would be transient and we expect the situation to normalise in fiscal 2017-18.” (AR)
“The domestic market has seen a sharp decline in demand due to demonetisation in the third fiscal quarter, consequently, margins have been under severe pressure, and this is likely to continue into the fourth quarter,” chairman CS Nopany said. “The impact of demonetisation, however, would be transient and we expect the situation to normalise in fiscal 2017-18.” (AR)
Fibre2Fashion News Desk – India
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