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Our Bureau

COIMBATORE: A Sharp increase in `other expenditure' and higher provisioning for interest and depreciation have led to Super Spinning Mills posting a lower net in spite of increase in net sales in the first quarter of the current fiscal compared with the corresponding period last year.

According to the unaudited financial results for the quarter ending June 30, 2004, net sales rose to Rs 79.38 crore (Rs 73.65 crore). Raw material cost was slightly higher at Rs 41.44 crore (Rs 40.48 crore), interest payment was at Rs 3.22 crore (Rs 2.52 crore) and depreciation accounted for Rs 4.36 crore (Rs 4.02 crore). Net profit dipped slightly to Rs 2.61 crore compared to Rs 2.94 crore in the corresponding period last year.

EPS moved down to Rs 4.75 (Rs 5.35).

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E.I.D. Parry net at Rs 24.5 crore

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