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Indian Rayon net sales rockets vertically in Q1
28 Jul '05
6 min read
Textiles division
The textiles division's revenues have gone up 7.7 per cent to Rs. 110.35 crore as against Rs. 102.49 crore in the corresponding quarter of the previous year. Profits jumped by 102.6 per cent.
This strong performance is boosted by the linen fabric segment, benefiting from the growing awareness and usage. Worsted segment has gained from increased operations of expanded wool combing facility.
Synthetic yarn benefited from the conversion into an EOU.
The expansion of its wool combing facility by 4,000 tpa became fully operational during the quarter.
Insulators domestic marketing
The strong 22 per cent growth in volumes has supported revenues, which stood at Rs. 34.31 crore. The outlook for the insulator business is promising given the thrust on power sector reforms.
Joint ventures and subsidiaries
The company's joint ventures and subsidiaries are on track.
Birla NGK Insulators Private Limited has posted growth of 26.8 per cent in turnover at Rs. 46.34 crore. Guided by NGK experts, yield improvement efforts are being pursued.
At Birla Sun Life Insurance, the total premium income has grown by 26.7 per cent to Rs. 157.41 crore. The first year premium in the individual business has grown by 8.2 per cent. The renewal premium was encouraging, with more than a 95 per cent renewal rate. The group business however, had a major setback with the introduction of fringe benefit tax (FBT) on superannuation fund and the intense pricing pressure from competitors. The company has enriched its product portfolio by introducing Classic Life Premier and Life Companion plans. Indian Rayon has contributed Rs. 14.8 crore during the quarter towards its share capital.
The textiles division's revenues have gone up 7.7 per cent to Rs. 110.35 crore as against Rs. 102.49 crore in the corresponding quarter of the previous year. Profits jumped by 102.6 per cent.
This strong performance is boosted by the linen fabric segment, benefiting from the growing awareness and usage. Worsted segment has gained from increased operations of expanded wool combing facility.
Synthetic yarn benefited from the conversion into an EOU.
The expansion of its wool combing facility by 4,000 tpa became fully operational during the quarter.
Insulators domestic marketing
The strong 22 per cent growth in volumes has supported revenues, which stood at Rs. 34.31 crore. The outlook for the insulator business is promising given the thrust on power sector reforms.
Joint ventures and subsidiaries
The company's joint ventures and subsidiaries are on track.
Birla NGK Insulators Private Limited has posted growth of 26.8 per cent in turnover at Rs. 46.34 crore. Guided by NGK experts, yield improvement efforts are being pursued.
At Birla Sun Life Insurance, the total premium income has grown by 26.7 per cent to Rs. 157.41 crore. The first year premium in the individual business has grown by 8.2 per cent. The renewal premium was encouraging, with more than a 95 per cent renewal rate. The group business however, had a major setback with the introduction of fringe benefit tax (FBT) on superannuation fund and the intense pricing pressure from competitors. The company has enriched its product portfolio by introducing Classic Life Premier and Life Companion plans. Indian Rayon has contributed Rs. 14.8 crore during the quarter towards its share capital.
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