SVP Q3 profit soars 122% to Rs 20 cr

Diversified yarn manufacturing company SVP Global Ventures (SVP) has reported a 122 per cent increase in its consolidated profit after tax at Rs 20 crore for the December quarter.
The company had posted a profit of Rs 9 crore during the same period previous fiscal, SVP said in a statement.
Consolidated revenue for quarter stood a Rs 709 crore against Rs 610 crore in the same period last year, up 16 per cent.
"The result for the nine months of the fiscal reflects the incremental focus on higher margin businesses and bottomline growth," SVP Managing Director Chirag Pittie said.
Consolidated EBITDA for the quarter grew 46 per cent to Rs 73 crore as against Rs 50 crore in the same period last fiscal.

The stock was trading 0.72 per cent down at Rs 528 on BSE.