Comments
Polyester manufacturer Indo Rama Synthetics (India) Ltd reported a sharp 5,000 per cent jump in its standalone profit to ₹97.38 crore for the third quarter ended December 31. The company has attributed the increase to forex gains. Net sales, however, declined to ₹582.07 crore in the October-December quarter against ₹694.61 crore in the same period last fiscal.
This was largely due to non-availability of raw material as Indian Oil’s Purified Terepthalic Acid (PTA) plant was closed, the company said. Indo Rama, which suffered losses in the second quarter, is hopeful of better performance in the coming quarters.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.