Financial Daily from THE HINDU group of publications
Thursday, Feb 02, 2006
Financial Daily from THE HINDU group of publications Thursday, Feb 02, 2006 |
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Corporate Results
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Textiles Precot net goes up to Rs 3.5 cr Our Bureau
Coimbatore , Feb. 1 A LOWER raw material price aided by drop in the interest payments on account of reduced long term/working capital borrowings lift up the net profit of the Precot Mills Ltd at Rs 3.52 crore for the quarter ended Dec. 31, 2005 as against Rs 79 lakh realised for the same period in the previous year. This is notwithstanding the company showing a marginally lower net sales for the quarter at Rs 59.48 crore as compared to Rs 60.56 crore for the corresponding period in the previous year. It also showed a sum of Rs 2.75 crore towards `other income' for the quarter (Rs 1.85 crore last year), fetched by the sale of a part of company's investments. Its profit before tax for the quarter under review is four times higher at Rs 5.58 crore (Rs 1.09 crore). The company had during the quarter expended a lower raw material cost at Rs 27.50 crore as compared to Rs 31.52 crore and its interest charge for the quarter was just Rs 94 lakh as against Rs 2.33 crore in the previous year. Its paid up equity base at Rs 5.45 crore, its earning per share for the quarter was Rs 6.5 as against Rs 1.4 for the corresponding period last year.
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