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Our Bureau

Mumbai, May 25

Banswara Syntex Ltd has posted a 35.43 per cent decrease in net profit at Rs 2.77 crore (Rs 4.29 crore) for the quarter ended March 31. Net sales grew 13.65 per cent to Rs 107.58 crore (Rs 94.66 crore).

For the full fiscal, net profit rose 61.51 per cent to Rs 14.94 crore (Rs 9.25 crore) while net sales increased by 20.33 per cent to Rs 380.99 crore (Rs 316.62 crore). Commenting on the results, Mr R.L. Toshniwal, Chairman, said, "Our profitability continues to be moderate on account of higher power cost. We are in the advanced stage of setting up a 18 MW thermal power plant, which is scheduled to become operational by June, which will add to our profitability." Shares of the company rose 1.25 per cent to close at Rs 65 on the BSE.

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