Himatsingka net falls by 12 per cent

Himatsingka Seide's net profit for the quarter-ended September fell 12 per cent over the corresponding period last year to Rs 11.5 crore. The fall was primarily on account of a 68 per cent decrease in other income. In the same period, total revenue was down 1.77 per cent to Rs 34.63 crore.

In the first half of the year, net profit fell 11.2 per cent over the same period last fiscal to Rs 21.62 crore. Sales, however grew 1.6 per cent to Rs 65.76 crore. Other incomes during the period slid to Rs 2.9 crore from Rs 7.2 crore.

A statement from the company said, its board of directors have recommended a 50 per cent dividend. The statement added that the company plans to add 37 looms to its fabric division at a cost of Rs 24 crore.