Financial Daily from THE HINDU group of publications
Thursday, Jul 14, 2005
Financial Daily from THE HINDU group of publications Thursday, Jul 14, 2005 |
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Corporate Results
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Textiles S Kumars Nationwide posts Rs 17-cr profit Our Bureau
Mumbai , July 13 S.KUMARS Nationwide Ltd, a textile company, has reported net profit of Rs 17.45 crore for the June quarter (Q1) due to volume growth, better export and greater productivity compared to a loss of Rs 33.73 crore in the same period a year ago. Net revenues rose 29 per cent to Rs 205.91 crore (Rs 159.30 crore). "We are sensing an attractive business opportunity both on the domestic and exports market front. We recorded higher levels of efficiencies and given the strength of our operations and encouraging levels of customer demand, we remain positive on the performance outlook going forward," said Mr Nitin S. Kasliwal, Managing Director. It has reduced the interest charges to Rs 11.83 crore (Rs 28.35 crore). Revised corporate debt restructuring package by the lenders is under implementation. The company has commenced servicing its debts as per the CDR package, the release said.
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