Home / Knowledge / News / Textiles / Both sales & profits down at Indo Rama Synthetics

Both sales & profits down at Indo Rama Synthetics

01
Nov '08
Indo Rama Synthetics (India) Limited, the country's largest dedicated polyester manufacturer, today announced its unaudited Q2 and H1 results for the financial year 2008-09.

YTD H1 FY09 net sales amounted to Rs.1291.42 crore, down by 4.78% and YTD EBIDTA stood at Rs. 81.90 crore. EBIDTA for the quarter ended September 30, 2008 was recorded at Rs 14.92 crore and the net sales for the quarter stood at Rs.488.36 crore, as compared to Rs. 669.36 crore in the corresponding quarter last year.

Net Loss for the quarter stood at Rs.6i.48 crore and YTD Loss at Rs.82.29 crore as against Net Profit of Rs.11.80 crore and Rs.14.07 crore last year.

In line with a difficult macro environment, the Company faced challenges and delivered a muted performance. A high degree of volatility in crude prices created apprehensions across the value chain compelling minimising inventories. In line with this view, IRSL chose to curtail production and liquidate inventories. The power business is, however, doing well and we expect the trend to continue.

Commenting on the Results, Mr. O.P. Lohia, Chairman and Managing Director, IRSL said, “The unexpected fall in the crude oil prices and downturn in the economy has affected the performance of the Company. While we are seeing a gradual improvement we believe the whole process will take some time to return to normal. We are optimistic about our power business and look forward for further improved performance in coming quarters”.

About Indo Rama Synthetics (India) Ltd:

Indo Rama Synthetics (India) Limited was established in India in 1992 with a commitment to quality and customer satisfaction. It's exposure to international operations gives it a competitive edge in adherence to global standards.

With the last expansion, Indo Rama's Butibori plant has become one of the largest single-location plants in the world, producing around 6,00,000 tonnes per annum of Polyester Staple Fibers, Filament Yarns, and Textile grade Chips.

Indo Rama Synthetics


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 29th Oct 2020

Bangladesh restored 40% of cancelled RMG orders: minister

Bangladesh foreign minister AK Abdul Momen recently said the...

Pic: Shutterstock

Textiles | On 29th Oct 2020

Uzbek trade body, Indonesian textile firm mull cooperation

Representatives of the Uzbekistan Textile and Garment Industry...

Pic: Shutterstock

Textiles | On 29th Oct 2020

PRC unofficially boycotts Australian cotton, imports halt

All cotton exports by Australia to China have reportedly stopped...

Interviews View All

Md Hanifur Rahman, Aman Group

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Darshan Mehta, Infinium Polychem

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Top executives, Textile industry

Top executives
Textile industry

Denimsandjeans India 2018

Poonam Naik Desai,

Poonam Naik Desai

Peekaboo is a sustainable, high quality, luxury sleepwear brand providing...

Tom,

Tom

<div>Inkbank is a leading supplier of inkjet inks and inkjet printing...

Shivani Swamy,

Shivani Swamy

The Livinguard Technology is owned by Green Impact Holding AG based in...

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Shlomzion Chen, Seevix

Shlomzion Chen
Seevix

Seevix Material Sciences Ltd, which develops and manufactures synthetic...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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


October 2020

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


Advanced Search