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BSL records 55.43% jump in net profit in Q3 FY07

Jan '07
Erection of power plant to help boost margins from Q1FY08.

The Board of Directors of Banswara Syntex Ltd (BSL) adopted its Unaudited Financial Results for the third quarter ended December 31, 2006.

BSL has posted a 55.43 per cent rise in net profit at Rs 3.59 crore for the third quarter ended December 31, 2006 as compared to Rs 2.31 crore in the corresponding quarter previous year. Net sales rose 11.65 percent to Rs 86.52 crore compared to Rs 77.49 crore during the same quarter previous year.

Meanwhile, the company has posted 144.87 percent rise in net profit at Rs 12.17 crore for the nine months period ended December 31, 2006 compared to Rs 4.97 crore in the corresponding period previous year. Net sales increased by 23.18 percent to Rs 273.41 crore compared to Rs 221.96 crore during the same period previous year.

Commenting on the results, R L Toshniwal, Chairman said, “BSL's profitability has been restrained on account of its high power cost. Going forward we are setting up an 18 MW thermal power plant, which is scheduled to become operational in Q1FY08. Higher contribution from garments and decline in power costs would enable the company achieve improvement in net profit margin from current levels of 4.50%.”

Click here to view unaudited financial results:

Banswara Syntex Ltd

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