The Hindu Business Line : Super Spinning Q2 net up at Rs 5.88 cr

SUPER Spinning Mills has recorded net sales of Rs 90.80 crore for the quarter ended September 30, down 4.82 per cent over Rs 95.40 crore registered in the same period last year.

The decline in sales is due to a lower level of cotton trading reported by the company during the quarter, according to sources.

As against Rs 11.69 crore revenue earned out of cotton trade, the sale income in the quarter under review on this count was Rs 5.45 crore.

However, the company's revenue from yarn and garment during the quarter at Rs 86.36 crore has kept pace with last year's levels of Rs 85.63 crore.

The company has registered a four-fold rise in the profit before tax during the quarter at Rs 8.83 crore (Rs 2.64 crore) and a net profit of Rs 5.88 crore (Rs 14 lakh) respectively.

The company officials maintained that the higher net profit was on account of lower raw material cost compared to the previous year. On the NSE, the company's scrip opened at Rs 371, touched a high of Rs 389 and closed at Rs 377.15.

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