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Mumbai, Jan. 24

JBF Industries Ltd, a manufacturer of polyester chips and yarn, has posted a 143.44 per cent rise in net profit at Rs 23.37 crore (Rs 9.6 crore) for the quarter ended December 31, 2006. Net sales zoomed 134.75 per cent to Rs 414.67 (Rs 176.64 crore).

The company's earnings per share on a fully diluted basis was Rs 3.46. "We have started production in our new plant in Sarigam, Gujarat," said Mr PN. Thakore, Chief Financial Officer, JBF Industries. The company is doubling its capacity at the Sarigam plant from 6,000 tonnes per day to 12,000 tonnes per day at an estimated cost of Rs 90 crore. Shares of the company rose 2.22 per cent to close at Rs 122.15 on the BSE.

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