Financial Daily from THE HINDU group of publications
Thursday, Jul 22, 2004
Financial Daily from THE HINDU group of publications Thursday, Jul 22, 2004 |
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Corporate Results
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Textiles Indo Rama net up 87 per cent in first quarter Our Bureau
New Delhi , July 21 INDO Rama Synthetics Ltd on Wednesday announced a 87 per cent jump in net profit for the first quarter of this fiscal (April-June 2004-05) at Rs 6.71 crore, as against Rs 3.59 crore in the corresponding period last fiscal. The company reported a 17 per cent growth in gross sales at Rs 558.20 as against Rs 475.31 crore previously. It has set a target of increasing turnover to Rs 2,700 crore by the end of the current fiscal, from Rs 2,196 crore in 2003-04. The profit before tax stood at Rs 11.34 crore in the first quarter this fiscal, indicating a growth of 182 per cent over the same quarter last financial year. "We are confident of improving our financials in the next three quarters and are expecting to end this fiscal around Rs 2,700 crore," the Managing Director, Mr O.P. Lohia, said after announcing the first quarter's result here.
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