Indian Rayon Q3 net at Rs 28.56 crore

A V Birla group major, Indian Rayon's net profit for the quarter ended 31 December 2003 remained flat at Rs 28.56 crore, against Rs 28.61 crore in the corresponding quarter of the previous year.

The company registered a 11 per cent growth in net sales at Rs 411.23 crore, against Rs 370.45 crore in the corresponding period of the previous year.

The company's rayon division reported a 6.4 per cent decline in revenues at Rs 85.42 crore (Rs 91.31 crore).

The company has outlined a challenging outlook for this division in the short term as prices may be affected with the rationalisation of import duty.

Meanwhile, the garments division recorded 9.4 per cent higher revenues at Rs 100.3 crore (Rs 91.66 crore).