>>
Home / Knowledge / News / Textiles / Listed textile companies post huge losses

Listed textile companies post huge losses

20
Oct '09
According to an analysis made of the textile companies, listed on the stock exchanges of the countries, profits of these enterprises have plunged by nearly 57 percent, due to the effects of the recessionary trends and shortages of energy and gas.

These companies though do not represent the textile sector as a whole; but, they do broadly symbolize the industry and does give an indication of the rot which has set into the sector, in the last one year.

Experts aver that, other than the recessionary trends, the biggest factor which has affected the textile industry to a great extent are the twin shortages of gas and electricity, which has hampered smooth running of the companies.

Despite a revenue jump of 13 percent, and also an improvement in gross margins to 12.7 percent, spinning segment's earnings turned negative posting a loss of Rs 962 million. A hike in financial charges completely wiped out the gross margins.

The weaving segment too followed the trend set by the spinning sector and here again, despite an increase of 16 percent in net sales, the segment recorded huge losses. The segment posted net loss of Rs 111 million compared to a loss of Rs 389 million a year before.

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 17th Jan 2022

China’s GDP increases by 8.1% in 2021

The GDP of China was 114,367 billion yuan in 2021, an increase of 8.1 ...

Pic: Shutterstock

Textiles | On 17th Jan 2022

EU-UK bilateral trade of textiles witness major drop: EURATEX

The imports and exports of textiles between the EU and UK have...

Pic: Shutterstock

Textiles | On 17th Jan 2022

Canada-Vietnam sign MoU for joint economic committee

Canada and Vietnam recently signed a memorandum of understanding...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Always best to produce under own supervision

Textile Industry, Head honchos

Textile Industry
Head honchos

Uniform designing is a numbers game

Footwear Industry, Footwear Retailers

Footwear Industry
Footwear Retailers

Still struggling to mop up higher sales

Dhruv Toshniwal & Udit Toshniwal,

Dhruv Toshniwal & Udit Toshniwal

Launched a year ago, Fashions Pvt Limited conceptualises and sees D2C...

K Madhavan,

K Madhavan

Established in 2005 by P Manjunath, Peps is India's largest inner spring...

Richard Armitage,

Richard Armitage

Adaptive Control automates, controls and monitors machines, systems and...

Jacques Prigneaux, EDANA

Jacques Prigneaux
EDANA

EDANA has been the leading global association and voice of the nonwovens...

Asif Rahman, MIP

Asif Rahman
MIP

MIP is a manufacturer and distributor of high-performance textiles and...

Shlomzion Chen, Seevix

Shlomzion Chen
Seevix

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

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah & Sandeep is a luxury menswear label...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha & Jigar blends India's unique handcrafts...

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

ESTEEMED CLIENTS

Sateri (Jiujiang) Fiber Co.,Ltd
Bluestem Global Sourcing Limited
Alison Hayes Romania
Grasim Industries Limited
Guess Europe Sagl,
Lisa S.P.A.
Midas Clothing Limited
The LYCRA Company Singapore  Pte. Ltd
Walmart
Gloria Jeans
Vianney Textil Hogar S.A. De C.V.
Etam Group Strategy Hong Kong Limited
BIANCA
PVH Corporation
Babyshop
Hirdaramani International Export Private Limited
H;&M Hennes ;& Mauritz (Far East) Ltd
Seasalt Limited

January 2022

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


Advanced Search