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Birla Cotsyn, part of the Rs 3,000-crore Yash Birla Group, has reported a 62 per cent fall in net profit at Rs 88 lakh in the quarter ended December against Rs 2 crore logged in the same period last year. Net sales improved 39 per cent to Rs 134 crore (Rs 97 crore) in the quarter under review. Revenues from textile fabric stood at Rs 87 crore (Rs 61 crore) while revenues from textile yarn were up at Rs 48 crore (Rs 37 crore).
Mr P.V.R. Murthy, Group Finance Director, Yash Birla Group, said, “We see huge potential in our textile business owing to the increase in constant demand from rural India and improvement in exports.”
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