The country’s largest polyester manufacturer Indo Rama Synthetics posted a net loss of ₹14.17 crore for the quarter ended March 2014 almost half the net loss of ₹38.06 crore it suffered in the same quarter last year.
Net revenue for Q4 at ₹693.47 crore was marginally lower than ₹706.99 crore in Q4 last year.
Net loss for the financial year 2013-14 was ₹8.18 crore against a profit of ₹41.26 crore last year due to low demand, high raw material prices and interrupted power supply, according to a company release.
For 2013-14, the net revenue stood at ₹2,629.12 crore compared with ₹2,910.13 crore in the previous year. Indo Rama, however, is optimistic of better performance this year as it expects demand for polyester to improve. For the full year, earnings stood at ₹145.08 crore compared with ₹243.19 crore in the last fiscal year.
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