Sutlej Text PAT up 365%

HT Correspondent ( Hindustan Times, New Delhi – Tuesday, July 25, 2006 )

New Delhi , July 24

 SUTLEJ TEXTILES and Industries, a part of the K.K.Birla Group of Companies has registered a 365.15 per cent increase in net profit after tax for the quarter ended  June, 2006 as compared to the same quarter in the previous year.  

Profit after tax for the quarter ended June 30, 2006 stood at Rs.11.21 crore as compared to Rs.2.41 crore in the same quarter in 2005.  

Net sales of the company for the quarter stood at Rs.169.42 crore as compared to Rs.133.67 crore in the corresponding  quarter of 2005 – registering a rise of 26.75 per cent. Earnings before, interest, depreciation and tax stood at Rs.27.20 crore – a rise of 93.87 per cent as compared to Rs.14.03 crore for the same quarter of the previous year.

Cash profit clocked a growth of 103.82 per cent at Rs.22.95 crore this year as against Rs.11.26 crore in 2005.

   “Market conditions have remained favourable during the last quarter ended June 30, 2006 .  The increase in raw material costs has been offset by an increase in the prices of yarn. Production at all the facilities was satisfactory with spindle usage of 95.35 per cent”, a company statement said.  

The Company has a spinning capacity of 1.63 lakh spindles in its two spinning units at Bhawanimandi and Kathua.  It has a capacity to produce 4.8 milion metres of fabrics per annum and a processing capacity of 18 million metres per annum at Bhilad.  The Company plans to invest Rs.230 crore to set up two greenfield facilities, increasing capacity and setting up two 14.5 MW captive power plants in the next two years.