Home / Knowledge / News / Textiles / Indo Rama Synthetics massively narrows Q2FY15 net loss
Indo Rama Synthetics massively narrows Q2FY15 net loss
14
Nov '14
In the second fiscal quarter ending September 30, 2014, polyester producer Indo Rama Synthetics (India) Limited reported a massive decline in net loss, from a year earlier quarter.

Net loss dropped steeply to Rs 16.02 crore in the second quarter of fiscal 2014-15 from net loss of Rs 61.36 crore in the corresponding quarter of 2013-14.

Higher sales and better margins helped Indo Rama Synthetics, one of the biggest Indian polyester makers to narrow losses.

Revenue rose 15.61 per cent in the reporting quarter to Rs 716.81 crore compared to Rs 619.98 crore in the prior year quarter.

Operational EBIDTA at Rs.29.98 crore in the period under review was higher by 92.7 per cent vis-a-vis Rs 15.55 crore in the second fiscal quarter of 2013-14.

However, finance costs soared to Rs 11.55 crore from Rs 8.71 crore a year earlier, while net debt in the second fiscal quarter of 2014-15 amounted to Rs 190 crore.

OP Lohia, CMD said, “While the sentiment around business environment is showing signs of improvement, PTA duty structure is hampering growth of the polyester industry.”

He expects positive policy framework under the Make-In-India campaign and policy support in order to help the polyester sector showcase its capability and prowess.

Indo Rama Synthetics is India’s largest dedicated polyester manufacturer with an integrated manufacturing complex in Butibori near Nagpur in Maharashtra.

The complex has a production capacity of 610,050 tons per annum of polyester staple fibre, filament yarn, draw texturised yarn, fully drawn yarn and textile grade chips. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 3rd Aug 2021

84% industrial units in Bangladesh reopen; union leaders concerned

Around 84 per cent of Bangladesh's textile and readymade garment...

Pic: Shutterstock

Apparel/Garments | On 3rd Aug 2021

Prime Content| Vietnam textile & garment exports at $17.953 bn in Jan-June '21

Vietnam earned $17.953 billion from textile and garment exports in...

Pic: Shutterstock

Fashion | On 3rd Aug 2021

Victoria's Secret's UK arm goes into liquidation

The UK arm of lingerie retailer Victoria's Secret, which has 25...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Next level is to inject new features:

Textile Industry, Head honchos

Textile Industry
Head honchos

Strongly believe in 'people first' policy.

Textile Industry, Head honchos

Textile Industry
Head honchos

Extension of RoSCTL to boost textile exports

Mumin Can Eker,

Mumin Can Eker

Maseksport Inc is a readymade garment exporter. Founded in Izmir in 1989,...

Benedetta Terraneo,

Benedetta Terraneo

Miko Srl, a subsidiary of US-based Sage Automotive Interiors and a member...

Kurt Wedgwood,

Kurt Wedgwood

From design to raw material to fabrication and ultimately to delivery -...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Silverio Baranzano, Fitesa

Silverio Baranzano
Fitesa

Fitesa is a leader in the nonwoven fabrics industry, specialising in...

Sven Ghyselinck, Devan Chemical

Sven Ghyselinck
Devan Chemical

Headquartered in Belgium and with offices in the United Kingdom, Portugal...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

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


July 2021

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


Advanced Search