Sutlej Textiles posts huge jump in profits

29 Jan '10

1 min read

The turnover of Sutlej Textiles and Industries Ltd, for the third quarter ended December 31, 2009, has witnessed a hike of 38 percent and stood at Rs 2.95 billion, as against turnover of Rs. 2.14 billion attained during corresponding quarter of the previous year.

Company realized cash profits of Rs. 232.8 million during the quarter under review against a loss of Rs 43 million in the third quarter of previous fiscal year.

C S Nopany, Chairman of Sutlej Textiles and Industries Ltd, while commenting on the company's financial results said that, he was pleased to state that, Sutlej Textiles did well in Q3 of FY 2009-10 owing to various initiatives that were introduced during past years.

He said that the performance of textile sector has improved at present and owing to increased per capita consumption, expenditure on apparels had increased in domestic markets in 2009 as against 2008 and, it is expected that the trend will persist in 2010.

He also expressed optimism that exports are ought to improve and move further, on account of improvement in the overall economic condition.

Fibre2fashion News Desk - India

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