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Spentex announces Q3 FY07 results

30
Jan '07
Spentex Industries Limited (SIL), one of India's largest yarn manufacturers, has recorded consolidated income of Rs 256.41 crore for the quarter ended December 31, 2006, an increase of 252.94% from Rs 72.65 crore in the corresponding quarter last fiscal.

The net profit also increased substantially by 200.47% to Rs 12.80 in Q3 FY07 from Rs 4.26 crore in Q3 FY06. EBIDTA for Q3 FY07 stood at Rs 37.16 crore as against 7.85 crore in the corresponding previous quarter last fiscal.

The EBIDTA margin increased to 14.02% from 10.43%. The EPS of quarter ended 31/12/06 was at Rs 1.92 (basic) and Rs 1.79 (diluted).

The nine-month figures of the company also showed a steady growth with 126.77% increase in the turnover to Rs 606.68 crore from Rs 267.53 crore in the corresponding quarter last year.

The net profit also increased to Rs 15.65 crore in Q3 FY07, an increase of 43.18% from Rs 10.93 crore. The EBIDTA margin for the nine months also increased to 12.88% from 7.83% for the nine months ended December 31, 2005.

The figures of the current quarter and nine months include the figures post merger of Indo Rama Textiles Ltd. with Spentex Industries Ltd. and its subsidiaries Amit Spinning Industries Ltd, Spentex Netherlands B.V. and step down subsidiary Spentex Tashkent Toytepa LLC, etc.

Commenting on the performance of the company in third quarter of the current fiscal, Mr. Mukund Choudhary, Managing Director, Spentex Industries Limited, said, “We have seen a phenomenal increase in our turnover and profits this quarter and expect them to continue showing an upward trend in the coming quarters."


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