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Our Bureau

Kolkata, Oct 31 Sutlej Textiles and Industries Ltd, a K.K. Birla Group company, for the quarter ended September 30, 2007, has reported a 67-per-cent drop in profit after tax at Rs 3.66 crore from the Rs 11.28 crore for the corresponding quarter of 2006-07.

Net sales for the said quarter, however, have recorded a marginal increase of 3.24 per cent to Rs 189.57 crore (Rs 183.62 crore).

The company, in a statement announcing the second quarter results, has attributed the drop in PAT for the period under review to a strong rupee and increased supply in the domestic market, which have depressed realisations. It is learnt that several new initiatives have been launched to counter the impact of the rising rupee, including raising of production efficiency and undertaking capex projects for enhancement of profitability.

The company has set up a spinning capacity of about 2.04 lakh spindles at its two spinning units at Bhawanimandi (Rajasthan) and Kathua (J&K). Sutlej has also established new capacity to produce 4.9 million metres of fabric, 2 million metres of home textiles, 1.6 million pieces of trousers and 20 million metres of fabric processing capacity per annum at Bhilad (Gujarat).

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