Home / Knowledge / News / Textiles / Indo Count's revenues spin up 97% in Q2

Indo Count's revenues spin up 97% in Q2

17
Nov '05
Mumbai based Indo Count Industries Ltd (ICIL), a 100 percent Export Oriented Unit (EOU) and a leading spinning & knitting company, reported a rise in net profit to Rs 1.65 crore for the quarter ended September 30, 2005 as compared to Rs 0.03 crore in the corresponding quarter previous year.

Revenues increased by about 97 per cent to Rs 57.83 crore as against Rs 29.26 crore during the same period in the previous year.

Earnings per share for the quarter stood at 0.60.

The company reported a 242.86 per cent rise in net profit to Rs 3.60 crore for the six months period ended September 30, 2005 as compared to Rs 1.05 crore.

Revenues during the first six months increased by over 73 per cent to Rs 107.8 crore as against Rs 61.97 crore during the same period previous year.

Commenting on the results, Mohit Jain, Director, Indo Count Industries Ltd said: 'The current performance is a reflection of goodwill, the company's products enjoy in the market and their good future prospects.

They are optimistic of robust growth in the coming quarters.'

He further added: 'Their foray into home textiles, which has huge growth potential owing to global demand supply mismatch, will further strengthen their position as a leading textiles exporter and contribute significantly to their financial performance.'

Indo Count has chalked out a Rs 400 crore expansion plan in home textiles segment to manufacture table linen, bed linen, curtains and made ups.


Must ReadView All

Pic: Shutterstock

Textiles | On 22nd Feb 2020

Pharr sells Pharr High Performance to Coats Group

Pharr, a provider of differentiated textile products and assorted...

Pic: Shutterstock

Textiles | On 22nd Feb 2020

TOAI highlights importance of textiles in auto industry

The first edition of the conference 'Textile Opportunities in a...

Pic: Shutterstock

Textiles | On 22nd Feb 2020

Cocona's 37.5 fibres to have new biodegradable additive

All of the 37.5 staple fibres and filament yarns by Cocona, will now...

Interviews View All

Cyril Pereira, Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Shiladitya K Joshi, Truetzschler India Private Limited

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Sonia Agarwal, Whitenife

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Mehul Vithalani,

Mehul Vithalani

Gopi Knitts is one of the most celebrated manufacturers and suppliers of...

Kamal Kulshreshth,

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

DP Kumar,

DP Kumar

Weaves is South India's premier textile fair organised by Texvalley in...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

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


February 2020

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


Advanced Search