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Our Bureau

Coimbatore , Oct. 27

Helped by higher contributions from the yarn and garment divisions, the Coimbatore-based Gangotri Textiles Ltd (GTL) posted higher sales and net profit in the second quarter of the current fiscal compared to the corresponding quarter in the previous year.

Net sales in Q2 of 2006-07 were at Rs 46.52 crore compared to Rs 37.83 crore in the same period last year.

Total expenditure

The total expenditure was higher at Rs 35.72 crore in the second quarter of this year as against Rs 30.80 crore during the same period last year.

After providing for interest, depreciation and tax, the net profit was higher at Rs 3.08 crore in the quarter ending September 30, 2006 compared to Rs 2.56 crore in the same period last year.

Mr Manoj Kumar Tibrewal, Managing Director, said the company was able to record a better performance in the second quarter of this year because of better product mix and higher yarn prices.

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