Sangam ( India) net profit up by 74.09% for Q2 ended Sept '06

31 Oct '06

3 min read

Sangam (India ), one of the largest polyester-viscose dyed yarn manufacturer in India, has posted a 74.09 per cent rise in net profit to Rs 10.08 crore for the second quarter ended September 30, 2006 as compared to Rs 5.79 crore in the corresponding quarter previous year.

Net sales during the quarter rose 52.39 percent to Rs 125.39 crore compared to Rs 82.28 crore during the corresponding quarter previous year.

During the quarter, the company witnessed a significant surge in export sales. Export sales rose by 155.00 per cent to $ 9.2 million from $3.6 million.

On a sequential basis, the company reported a 41.77 per cent rise in net profit at Rs 10.08 crore compared to Rs 7.11 crore in the first quarter ended June 30, 2006.

During this period, net sales rose 30.34 per cent to Rs 125.39 crore compared to Rs 96.20 crore in first quarter ended June 30, 2006. Exports sales during this period rose 41.64 percent at $ 9.2 million compared to $ 6.4 million in the first quarter ended June 30, 2006.

For the six months ended September 30, 2006 , the company has registered a 72.76 per cent rise in net profit at Rs 17.19 crore compared to Rs 9.95 crore.

Net sales during this period rose by 41.83 per cent at Rs 221.59 crore compared to Rs 156.24 crore for the six month ended September 30, 2005.

During this period, the company witnessed a 144.49 per cent rise in export sales at $15.7 million compared to $6.4 miillion in the same period last year.

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