Business Daily from THE HINDU group of publications
Thursday, Jan 24, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Jan 24, 2008 ePaper | Mobile/PDA Version |
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Corporate Results
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Diversified SRF net dips 51% in Q3 to Rs 34.28 cr Our Bureau New Delhi, Jan 23 SRF Ltd has reported a 51 per cent dip in its net profit for the third quarter ended December 2007. The net profit for the quarter under review was at Rs 34.28 crore against Rs 70.11 crore achieved in the corresponding previous quarter. The net sales of the company during the quarter was down 9.22 per cent to Rs 408.81 crore as compared to Rs 450.36 crore in the third quarter of the previous fiscal. The total income of the company dipped nine per cent to Rs 413 crore for the quarter ended December, 2007 from Rs 453 crore the corresponding previous quarter. A release from the company said that the decline in profitability was mainly because last year’s numbers included the effect of higher sales of accumulated certified emission reductions. “The appreciation of the rupee against dollar from an average of Rs 44.95 during the third quarter of 2006-07 to Rs 39.44 during the quarter under review, an appreciation of about 12 per cent, has also affected both the revenue and the profits adversely,” the release added. Tech textilesThe company also said that the technical textile business (TTB), which accounts for more than 50 per cent of the total revenue, registered 9.8 per cent growth in sales of its products, from 12,241 tonnes in the third quarter of 2006-07 to 13,445 tonnes in the third quarter of the current fiscal. The earning per share of for the quarter was at Rs 5.05. The company’s scrip on the Bombay Stock Exchange was up 8.43 per cent to close at Rs 115.8 on Wednesday. More Stories on : Diversified
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