The Hindu Business Line : 25 pc drop in Super Spinning Q3 net profit

DESPITE a Rs 14-crore increase in the net sales, the net profit of Super Spinning Mills Ltd in the third quarter ended December 31, 2003 fell by 25 per cent to Rs 2.58 crore as against Rs 3.46 crore realised for the same period in the previous year.

The company's total sales during the quarter grew by 20 per cent to Rs 85.77 crore compared to Rs 71.13 crore for the same period in the previous year. It had expended higher on raw material consumption, which stood at Rs 28.18 crore during the quarter under review (Rs 26.28 crore). It had also showed a higher amount on purchase of goods (cotton) for trading during the quarter at Rs 5.65 crore (Rs 2.09 crore). The company's other expenditure too remained higher at Rs 13.95 crore (Rs 12.85 crore).

Super Spinning Mills' net profit for the first ninth months' operation during the current fiscal stood pruned to Rs 7.12 crore ( Rs 12.05 crore) on a total sales of Rs 239.40 crore (Rs 208.65 crore).