Suryavanshi Mills Q3 net doubles

Our Bureau Hyderabad Jan. 30 | Updated on January 30, 2011

Higher sales helped Suryavanshi Spinning Mills to post a net profit of Rs 3.57 crore for the quarter ended December 31, 2010, as against Rs 1.68 crore in the corresponding quarter of last fiscal.

During the quarter, its revenues jumped 57 per cent to Rs 81.25 crore, as against Rs 51.68 crore in the year-ago period.

Mr J.K. Agarwal, Executive Director, said the company is in the process of expanding its ginning capacity from 1,000 bales a day to 2,000 bales a day, while the spindle capacity will be increased to two lakhs in the next three years.

“The expansion programme involves an investment of Rs 130 crore,” he said.

Published on January 30, 2011

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