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Our Bureau

Mumbai, Oct. 17

Banswara Syntex Ltd has reported a net profit of Rs 5.02 crore (Rs 1.41 crore) for the second quarter. Net sales increased by 33.14 per cent to Rs 103.28 crore.

"Increase in profit and sales can be attributed to a combination of our strategic expansion initiatives and our collaboration with the Carreman Michael Thierry group of France. That has given us better value-add and has increased our operating margins," said Mr R.L. Toshniwal, Chairman and Managing Director, Banswara Syntex.

The company expects Rs 400 crore turnover for 2006-2007 compared to Rs 316 crore in the previous year.

Shares of the company rose 1.49 per cent to close at Rs 85.15 on BSE.

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