Corporate Results
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Textiles
Suryalata Spinning net, turnover rise
Our Bureau
Hyderabad
,
Jan. 31
SURYALATA Spinning Mills Ltd has reported a significant growth in both sales turnover and net profit for the third quarter of the current fiscal ended December 2005 at Rs 44.86 crore and Rs 2.22 crore, respectively, yielding an EPS of Rs 4.75 on an expanded equity of Rs 5.45 crore.
In the corresponding quarter of the previous fiscal, the company posted a sales turnover of Rs 38.93 crore and a net profit of Rs 54 lakh, resulting in an EPS of Rs 1.60 on an equity of Rs 3.38 crore.
For the nine months period, the company's sales turnover stood at Rs 123.26 crore (Rs 110.86 crore) and net profit at Rs 6.97 crore (Rs 2.53 crore), resulting in an EPS of Rs 17.51 (Rs 7.48).
According to the Managing Director, Mr Vithaldas Agarwal, the expansion programme undertaken at Ramtek in Maharashtra would be completed by the month-end. The new unit at Urkondapet in Andhra Pradesh would be completed by December.
During the quarter under review, the company capitalised an amount of Rs 1.81 crore from securities premium account for issuing of 18.15-lakh bonus shares in the ratio of one share for every two shares held. Following this, the paid-up equity has increased to Rs 5.45 crore.
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