The Hindu Business Line : Ambika Cotton Mills net dip 18 pc

COIMBATORE: Ambika Cotton Mills Ltd recorded a 13.3 per cent drop in sale income at Rs 23.76 crore during the quarter ended December 31, 2004 against Rs 27.42 crore in the corresponding period last year.

The company's net profit for the quarter also came down by 18 per cent to Rs 3.48 crore from the previous year's Rs 4.24 crore. Largely reflective of the prevailing trend in the industry, Ambika Cotton Mills's net export sale for the quarter has shown a 40 per cent drop at Rs 9.96 crore from Rs 16.74 .

As per the company's unaudited financial results taken on record at the board of directors' meet here on Saturday, Ambika Cotton had expended Rs 12.31 crore towards raw material cost during the quarter under review, which as a percentage to the sale, works out higher at 51 per cent against 46 per cent in the previous year when it had expended Rs 12.63 crore toward raw materials.

The cost of staff and power stood at Rs 83 lakh (Rs 95 lakh) and Rs 1.47 crore (Rs 1.62 crore), respectively. The interest and depreciation charged remained at Rs 82 lakh (Rs 1.14 crore) and Rs 1.54 crore (Rs 1.32 crore), respectively.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page