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Tuesday, Aug 03, 2004

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Corporate Results - Silk

Himatsingka net recedes

Our Bureau

BANGALORE: Himatsingka Seide's net profits fell by 11 per cent to Rs 10.19 crore for the quarter ending June 2004, as compared to corresponding quarter last year, tracking a sharp decline in other income.

Sales revenues grew by 6 per cent during the quarter to Rs 31.12 crore as compared to Rs 29.41 crore in the corresponding quarter last year.

The company maintained operating margins at 42.2 per cent. Operating profits stood at Rs 13.14 crore as compared to Rs 12.52 crore in the corresponding previous quarter. Other income fell by 52 per cent at Rs 1.78 crore as compared to Rs 3.69 crore.

Fabric sales were up by 11 per cent at Rs 26.4 crore as against Rs 23.9 crore. Volumes were up by 6 per cent. However, yarn sales were lower at Rs 4.64 crore as compared to Rs 5.49 crore in the corresponding previous quarter.

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