• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Bangalore July 29

Strong rupee and expansion expenses impacted Himatsingka Seide’s consolidated net profit for the quarter-ended June, 2007. The company reported consolidated net profit of Rs 7.34 crore on revenues of Rs 89.37 crore for the June quarter this year.

The consolidated results include revenues of Giuseppe Bellora SpA, Italy and its subsidiaries in which Himatsingka holds a 70 per cent stake. It also includes results of Himatsingka Wovens Pvt Ltd and Himatsingka America Inc and Twill & Oxford, Dubai.

The profits were impacted by Rs 3.4 crore of expenses pertaining to the Hassan bed linen plant, mark-to-market impact of foreign exchange translation of Rs 1.7 crore and M&A related expenses of Rs 1 crore. In addition, revenue was impacted by the rupee appreciation.

On a standalone basis, the net profits for June quarter were down 36 per cent at Rs 9.15 crore, while revenues were up 3.6 per cent at Rs 45.53 crore compared to corresponding June quarter last year.

More Stories on : Silk

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
JRG Securities net up 21%

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line