Driven by fall in finance costs, net profit at yarns to apparel retail company, Siyaram Silk Mills zoomed 59.18 per cent year over year in the fourth fiscal quarter ended March 31, 2015.
In a BSE filing, Siyaram Silk said its net profit soared to Rs 32.14 crore in the quarter ended March 31, 2015 as against Rs 20.19 crore in the prior fiscal fourth quarter.Driven by fall in finance costs, net profit at yarns to apparel retail company, Siyaram Silk Mills zoomed 59.18 per cent year over year in the fourth #
Net sales at the Ramesh Poddar led and Mumbai based company climbed 18.32 per cent to Rs 479.45 crore compared to Rs 405.21 crore in the quarter ended March 31, 2014.
Helped by a 26 per cent year on year surge in other operating income, total income in the reporting quarter rose to Rs 479.95 crore, up 18.26 per cent from Rs 405.84 crore in the same quarter of fiscal 2014.
Total expenses for the fourth quarter of fiscal 2015 amounted to Rs 431.57 crore as against Rs 370.30 crore, an increase of 16.54 per cent.
Cost of materials consumed for the quarter rose higher by 24.40 per cent at Rs 172.02 crore compared to Rs 138.27 crore, while depreciation and amortisation charges surged to Rs 998 crore, up 30.79 per cent.
In the quarter ended March 31, 2015, profit before other income and finance cost expanded 36.24 per cent to Rs 483.8 crore from Rs 355.1 crore in the corresponding quarter of previous fiscal.
However, for the quarter under review, other income at Siyaram Silk fell 6.71 per cent to Rs 37.5 crore compared to Rs 40.2 crore.
Profit from ordinary activities before finance cost for the reporting quarter mounted to Rs 52.13 crore, up a massive 31.87 per cent from the same period of last fiscal.
Siyaram Silk Mills was also able to reduce its finance costs in the fourth quarter of fiscal 2015 by 14.46 per cent year over year to reach Rs 6.74 crore.
Profit from ordinary activities after finance cost drove up 43.41 per cent to Rs 45.39 crore in the quarter under review to Rs 31.65 crore in the quarter ended March 31, 2014.
For the fourth quarter of fiscal 2015, tax expenses propelled to Rs 14.63 crore, a steep rise of 46.33 per cent over the prior fiscal fourth quarter.
The board of directors of Siyaram Silk Mills has recommended a dividend payment of 100 per cent for each share with face value of Rs 10 for the 2014-15 fiscal. (AR)
Fibre2fashion News Desk - India
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