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 21st Aug 2019

EU rejects UK PM's Brexit backstop plan

The European Union (EU) rejected British Prime Minister Boris...

Sri Lanka's textile exports up 9.6% in Jan-June 2019

Textiles | On 21st Aug 2019

Sri Lanka's textile exports up 9.6% in Jan-June 2019

Sri Lanka's earnings from textiles and garments exports increased by...

Pic: Shutterstock

Textiles | On 21st Aug 2019

Chinese fabric firm mulls entering Philippines

Chinese firm Texhong Textile Group Ltd, which manufactures yarns and...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli, Epson, For.Tex & F.lli Robustelli

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Nuno Venda, ROQ

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Rashi Menda, Zapyle

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Franco Ravazzi,

Franco Ravazzi

Italy-based Tessimenti E Orditi Tinti (T.O.T SRL) specialises in stocking...

Harssh Chheda,

Harssh Chheda

Mumbai-based Corporate Collars provides bespoke tailoring services for...

Roz Guarnori,

Roz Guarnori

FESPA Global Print Expo 2019, to be held in Munich from May 14-17, is...

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Justin Chan & Shyam Gollakota, University of Washington

Justin Chan & Shyam Gollakota
University of Washington

A fabric that can store data without any electronics or batteries has been ...

Davide Vigano, Sensoria

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant & Nandita are known for being inspired by...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

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


August 2019

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

news category


Related Categories:

Advanced Search