Business Daily from THE HINDU group of publications
Saturday, Oct 28, 2006
ePaper
Business Daily from THE HINDU group of publications Saturday, Oct 28, 2006 ePaper |
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Corporate Results
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Diversified SRF Q2 profit zooms Our Bureau
New Delhi , Oct. 27 SRF Ltd has reported a 643 per cent increase in profit after tax to Rs 89.22 crore in the second quarter of the current year, over Rs 12 crore in the same quarter last year. The company's Q2 revenues increased by 62 per cent to Rs 475.12 crore (Rs 292.84 crore). Commenting on the financial performance, Mr Arun Bharat Ram, Chairman and Managing Director, SRF Ltd, said, "The quarter was marked by strong cash flows generated from the transfer of Certified Emission Receipts (CERs). We continue to face pressure on realisations and margins in our businesses. Our focus will remain on cost efficiency and improving margins in our current businesses so that they revert back to providing better returns. However, our strategy on carbon credits has paid off. SRF has been able to carry out successful and remunerative deals on the carbon-trading front." SRF's results were published inaccurately earlier due to incorrect information provided to the publication.
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