Home / Knowledge / News / Textiles / Q2 FY'14 net profits up 9% q-o-q at SRF
Q2 FY'14 net profits up 9% q-o-q at SRF
13
Nov '13
SRF Limited, a multi-business entity engaged in the manufacture of chemical based industrial intermediates, reported a net profit after tax (PAT) of Rs. 48 crore during the second quarter of 2013-14, sequentially an increase of 9 per cent over Rs. 44 crore recorded during the previous quarter ended June 2013.

The prevailing economic slowdown coupled with forex loss against forex gain of last year, however, caused 37 per cent decline in the company’s PAT during the second quarter of the current financial year over the corresponding period last year (CPLY) when it had posted a PAT of Rs. 75 crore.

The company also absorbed a loss of Rs. 6.54 crore during the period against a gain of Rs. 41.54 crore during CPLY on account of foreign exchange fluctuations. SRF’s revenue, however, increased by 5 per cent from Rs. 804 crore to Rs. 844 crore during the same period year-on-year. The unaudited financial results of SRF were taken on record by SRF’s Board in a meeting held.

In meeting, the Board also approved an interim dividend at the rate of 30 per cent amounting to Rs. 3 per share. Reflecting on the financial performance of the company, Mr. Ashish Bharat Ram, Managing Director, SRF Limited, commented: “In a weak economic environment, the company has managed to do well. Operations across the board performed better than expectations. Having said that the economic conditions remain extremely challenging with low visibility. ”

Q2 Segment Results

While the segment revenue for the Technical Textiles Business grew by 4% from Rs. 435 crore to Rs. 453 crore, its operating profit increased by 43% from Rs. 33 crore to 47 crore during the quarter ended September 2013 over CPLY.

The Packaging Films Business recorded a growth of 12% in its segment revenue from Rs. 164 crore to Rs. 184 crore and a growth of 145% in its operating profit from Rs. 6 crore to Rs. 14 crore during the second quarter ended September 2013. The Chemicals & Polymers Business recorded a marginal increase in its segment revenue from Rs. 206 crore to Rs. 208 crore. The operating profit of the Chemicals & Polymers Business, however, declined by 17% from Rs. 42 crore to Rs. 35 crore during July-September 2013.

H1 Financials

In the first six months of 2013-14, the company’s revenue at Rs. 1669 crore increased by 3% over Rs. 1616 crore recorded during the same period last year. The net profit after tax (PAT) of SRF declined by 6% at Rs. 92 crore during April-September 2013 as against Rs. 97 crore posted during CPLY. The company’s profit from ordinary activities after finance costs but before exchange currency fluctuation and exceptional items, however, increased by 13% from Rs. 120 crore to Rs. 136 crore during the same period over CPLY.

SRF


Must ReadView All

Pic: Shutterstock

Textiles | On 25th Oct 2021

Hong Kong to strengthen status as global shipping centre: Minister Li

The Hong Kong Special Administrative Region will strengthen its...

Pic: AVM Images / Shutterstock.com

Fashion | On 25th Oct 2021

UK’s JD Sports Fashion acquires Cosmos Sport in Greece & Cyprus

JD Sports Fashion Plc, one of the world's leading retailers of...

Pic: Maison Orient

E-commerce | On 25th Oct 2021

ClearAngel invests $10k in Turkish fashion platform Maison Orient

Clearco, the world’s largest e-commerce investor revolutionising the...

Interviews View All

India-EU Summit, Representatives

India-EU Summit
Representatives

India-EU FTA will provide EU with better access to a huge & rapidly...

Textile Industry, Head honchos

Textile Industry
Head honchos

Donating 20,000 N95 masks to hospitals & NGOs

Textile Industry, Head honchos

Textile Industry
Head honchos

Delay in adopting water sustainability both financially & environmentally...

Nantas Montonati,

Nantas Montonati

The Riri Group is a one-stop supplier of metal accessories for the luxury...

Yawer Ali Shah,

Yawer Ali Shah

Synthetic colours and dyes were all the rage till the very first ban on...

Richard Armitage,

Richard Armitage

Adaptive Control automates, controls and monitors machines, systems and...

Dr Anup Rakshit, ITTA

Dr Anup Rakshit
ITTA

The Indian Technical Textile Association (ITTA) is the only association of ...

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll
Lenzing

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah & Sandeep is a luxury menswear label...

Raghavendra Rathore, Label Raghavendra Rathore Jodhpur

Raghavendra Rathore
Label Raghavendra Rathore Jodhpur

Being one of the first designers to use the "Brand India" positioning for...

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

Leave your Comments


October 2021

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


Advanced Search