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Our Bureau

Hyderabad, May 2

Suryajyothi Spinning Mills Ltd has posted a PAT (before deferred tax provision) of Rs 2.16 crore on a total income of Rs 36.88 crore in the quarter ended March 31, 2006, as against a PAT of Rs 1.04 crore on a turnover of Rs 34.58 crore in the same quarter last year. The company registered a PAT of Rs 8.46 crore during the fiscal ended March 31, 2006, as against Rs 5.40 crore in 2004-05, showing a growth of 56.7 per cent. Total income was Rs 141.11 crore (Rs 133.64 crore), registering a growth of 5.7 per cent, a company press release said.

Mr A.K. Agarwal, Executive Director, said the company would add 32,256 spindles in two phases to the existing capacity of 55,000. The Rs 76-crore expansion and modernisation would be completed in the second quarter of this fiscal. Subsequently, the company would set up a unit near Hyderabad to manufacture bottom weight fabrics. "This is a natural progression from the yarns business. This expansion would include setting up a garment unit at a cost of Rs 100 crore," he said.

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