The company's consolidated revenues increased by 78 per cent from Rs. 1305.7 crore to Rs. 2320.8 crore. Revenues from its subsidiaries and joint ventures, where the company has made substantial investments in the past, saw a phenomenal rise of 202 per cent, from Rs. 522.5 crore to Rs. 1579.8 crore. All the businesses are on high growth trajectory.
The company's consolidated net profit of Rs. 99.8 crore grew by 50 per cent over Rs. 66.7 crore attained in the corresponding quarter of the last year. The contribution of joint ventures and subsidiaries to net profit has jumped from Rs. 10.4 crore to Rs. 73.3 crore.
Branded garments business continued to expand its retail space. Branded garments business revenues grew, on like-to-like basis, by 14 per cent from Rs. 141.3 crore to Rs. 161.2 crore. Operating profit saw a decline with stock liquidation, high lease rentals, high discount and the dormancy phenomena across the industry.
The contract exports business has been divested into Madura Garments Exports Limited from 1 July 2006. On a like-to-like basis volumes increased through the revenues were almost flat at Rs. 39.2 crore impacted by a stronger Rupee. The phase I of a new facility to manufacture shirts is slated to commence production from August 2007.
Rayon division recorded revenues of Rs. 104.0 crore against Rs. 112.2 crore in the corresponding quarter of the last year. VFY segment revenues were at Rs. 70.0 crore, impacted by lower sales volumes of VFY. In the chlor-alkali segment, revenues declined by 12 per cent at Rs. 34.0 crore due to lower ECU realisation.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
