Indian Rayon net sales rockets vertically in Q1

28 Jul '05

6 min read

Mumbai based leading viscous filament yarn (VFY) producer Indian Rayon And Industries Limited, a major Aditya Birla Group Company, has reported VFY sales volume grew by 12.7 per cent.

Company confirmed a turnover of Rs. 485.08 crore for the quarter ended 30 June 2005, a growth of 16.6 per cent vis-à-vis Rs. 416.12 crore achieved in the corresponding quarter of the previous year. While all businesses registered a good growth, garments and insulators have been the major contributors.

- Net sales Rs. 485.08 crore17 percent
- Net profit before exceptional items Rs. 30.75 crore47 percent

Profit before tax and exceptional items at Rs. 46.59 crore are higher by 50.6 per cent, driven by the textiles, insulator and carbon black businesses.

Net profit for the year at Rs. 30.75 crore against Rs. 20.87 crore in the corresponding quarter of the previous year is higher by 47.3 per cent. The company has paid Rs. 0.68 crore towards a VRS at its rayon division. In the corresponding quarter of the previous year, the company had made an exceptional profit of Rs. 4.16 crore on the sale of its global export division (Rs. 4.01 crore) and other investments (Rs. 0.15 crore).

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Madura Garments
The garments division's performance has improved substantially. Its revenue has soared by 19.5 per cent to Rs. 127.95 crore vis-à-vis Rs. 107.08 crore recorded in the corresponding quarter of the previous year. Operating profit is up by 14.3 per cent despite higher retailing cost and development cost for new contract export customers. Louis Philippe, Van Huesen and Allen Solly — its fashion brands, have been the propellants while Peter England continued to maintain its momentum.

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