Sutlej Textiles and Industries today reported a 42 per cent rise in net profit to Rs 45.09 crore for the June quarter, on the back of higher income from yarn and home textiles segment.
The company had reported a net profit of Rs 31.55 crore during the corresponding quarter of the previous fiscal.
Its total income from operations stood at 552.63 crore during April-June quarter as against Rs 462.60 crore in the year-ago period.
Expenses also shot up to Rs 496.19 crore during the quarter under review compared with Rs 417.97 crore last year.
"The company's concentrated efforts of focusing on specialty yarn products and enhancing home textile capacity facilitated in maintaining the growth momentum during this quarter, as the world grappled with new dimensions of economic uncertainty and stressed rural economy in the country.
"With forecast of above-normal monsoon, implementation of 7th pay commission and other Government initiatives, we are optimistic about the future. I hope with ongoing expansion projects to scale up the production of value added yarns and Home Textiles the Company will be able to deliver better performance in coming years," CS Nopany, Chairman, Sutlej Textiles and Industries said.
