Suryajyoti Spinning & STC Q4 results

CORPORATE SCORECARD

Suryajyoti Spinning net up 107.7%

Suryajyoti Spinning Mills has announced 107.7 per cent increase in net profit (before deferred tax provision) for the fourth quarter ended March 2006 to Rs 2.16 crore as compared with Rs 1.04 crore in the year-ago period.

Total income increased by 6.6 per cent to Rs 36.88 crore as compared with Rs 34.58 crore last year. EPS increased to Rs 1.67 for the quarter from Rs 0.82 in the corresponding previous quarter.

For the full year ended March 2006, the company's net profit increased by 56.67 per cent to Rs 8.46 crore as compared with Rs 5.4 crore in FY05. Total income saw a rise of 5 per cent to Rs 141.11 crore for the year as compared with Rs 133.64 crore last year.

Exports increased to Rs 22.91 crore from Rs 8.11 crore, up 182.5 per cent. EPS for the year stood at Rs 6.62 from Rs 4.93. Suryajyoti has initiated expansion and modernisation of its production capacities at a cost of Rs 63 crore.

Subsequently, the company plans to set up a unit near Hyderabad to manufacture bottom weight fabrics. The expansion, which will also include a garmenting unit, would cost about Rs 100 crore.

STC net profit up 290% at Rs 13 cr

State Trading Corporation (STC) reported 290 per cent jump in net profit at Rs 13 crore for the quarter ended march 2006 compared with Rs 3.33 crore in the corresponding quarter last fiscal.

For the financial year 2005-06, the company's net profit stood at Rs 36 crore against Rs 25 crore last year, a 44 per cent growth.

The export turnover of STC exceeded Rs 1,000 crore due to higher export of chemicals, drugs, pharmaceutical items and diversification in the areas of steel raw materials, coke and iron ore.

The import turnover during the year under review stood at Rs 5,500 crore. Domestic sales have also grown over the previous year with major domestic trading items including hydrocarbons, minerals, metals, petrochemicals and pulses.