Suryalata Mills Q4 net at Rs 7 cr

Cotton yarn maker Suryalata Spinning Mills has clocked a net profit of Rs 6.67 crore for the quarter ended March 31, 2011, as against Rs 2.15 crore in the year-ago quarter, backed by increased sales.

During the quarter, the company's total income stood at Rs 68.92 crore, as against Rs 46.13 crore in the corresponding quarter of the previous fiscal.

For the whole year, the company's net profit and income increased to 19.79 crore (Rs. 5.72 crore) and Rs 248.22 crore (Rs 169.86 crore) respectively.

The company has declared a final dividend of Rs 3 (30 per cent) for the fiscal.

Mr M.K. Agarwal, Joint Managing Director of the company, said the recovery of global textile economy during the year had resulted in a steady flow of orders, prompting the company to ramp up its production capacity.