Financial Daily from THE HINDU group of publications
Wednesday, Feb 02, 2005
Financial Daily from THE HINDU group of publications Wednesday, Feb 02, 2005 |
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Corporate Results
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Textiles Precot Mills posts higher profit in Q3 Our Bureau
Coimbatore , Feb. 1 PRECOT Mills Ltd has almost doubled its net profit despite a marginal decrease in net sales and a rise in interest outgo during the quarter ended December 31, 2004. The company's unaudited financial results for the third quarter have revealed its net sale coming down marginally to Rs 60.56 crore from Rs 64.07 crore realised for the same period in 2003. Its net profit for the quarter, however, stood higher at Rs 79 lakh as against Rs 43 lakh as on December 31, 2003. The financial performance has shown that it had charged a higher interest at Rs 2.23 crore during the quarter, 45 per cent higher than the interest outgo registered for the same period in the previous year when it had charged Rs 1.60 crore as interest. Its depreciation too stood higher at Rs 4.49 crore (Rs 4.17 crore). Precot's raw materials cost incurred in the quarter at Rs 31.52 crore as percentage to the turnover was higher at 52.
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