Home / Knowledge / News / Textiles / Suryalata Spinning Mills profitability takes a hit in H1
Suryalata Spinning Mills profitability takes a hit in H1
06
Jan '14
Given the rise in double digit inflation, soaring raw material prices and fuel cost, Secunderabad-based yarns producer Suryalata Spinning Mills Limited continued to find trading conditions difficult in the first six months of current financial year ended September 30, 12013.
 
Profitability took a hit due to economic slowdown, higher consumer debts levels and tight lending standards.
 
Engaged in manufacturing of synthetic blended yarns of polyester and viscose, the company reported 25.09 per cent decline in its net profit for the six months ended 30 September 2013 at Rs 3.97 crore from Rs 5.30 crore in the same period a year ago.
 
Raw material and power cost, which constitute a significant percentage of the company’s total expenses, increased significantly to Rs 122.61 crore and Rs 16.70 crore respectively during H1 2013-14. 
 
During the six months under review, the company’s net sales rose by 38.25 per cent to Rs 171.58 crore from Rs 124.10 crore in the same period a year ago, driven by pickup in exports. 
 
As a result of which, total revenue of company stood at Rs 179.09 crore in the six months ended 30 September 2013, from Rs 134 crore in the same period a year ago amidst a improve in business climate in global economies.
 
With global market back on track of healthy growth, the company is poised to reflect sound growth both in the domestic and international markets in next six months of current fiscal, amidst revival in demand of yarns. 
 
In tune with the changing trend, the company has already further expanded its production capacity to meet the growing demand and is poised to increase turnover and profitability by 15 per cent to 20 per cent.
 

Fibre2fashion News Desk - India


Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Overall, Union budget 2018-19 is very balanced

Anvita Mehra, Confidential Couture

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Anshul Sood, Oceedee

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Harsh Shah,

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Priyanka Gandhi,

Priyanka Gandhi

Established in 2016, Surat-based Shree Ganesh Yarns is a manufacturer of...

C Dhandayuthapani,

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Prof Seokheun (Sean) Choi, Binghamton University, State University of New York (SUNY)

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

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

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search