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Our Bureau

New Delhi, Oct. 17

Polyester manufacturer Indo Rama Synthetics India Ltd on Tuesday reported a 74 per cent dip in profit after tax at Rs 8.73 crore for the quarter ended September 30, as compared to Rs 33.67 crore for the corresponding quarter last year. Total income (net of excise) was down 16.4 per cent to Rs 399.31 crore for the July-September quarter this fiscal, from Rs 478.21 crore during the corresponding period a year ago. The company has cited pressure on raw material as the main reason for the dip in net profit. "In the last six months, petroleum prices have been volatile and supply of raw material such as paraxylene and PTA have been tight which resulted in pressure on margins," the Chairman and Managing Director, Mr O.P. Lohia, said here.

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