Polyester maker Indo Rama Synthetics Q3 net profit down 78%
20 Jan '06
1 min read
Polyester manufacturing company Indo Rama Synthetics Ltd has reported a 78.39 percent drop in net profit at Rs 4.63 crore for the quarter ended December 31, 2005 as compared to Rs 21.43 crore in the same period last fiscal.
The total income decreased 12 percent to Rs 418.11 crore for the third quarter ended December 31, 2005 compared to Rs 476.31 crore in the year-ago period, the company informed the Bombay Stock Exchange.
Indo Rama group is one of the country's largest polyester-cotton blended yarn exporters. It has a strong presence in Indonesia, Thailand, the US, Nepal and Sri Lanka, apart from India.
The company exports half of its production to over 60 countries and has a 30 percent share in the total polyester exports from India.
The company produces synthetic fibres, yarns and polymers at two plants — one at Pithampur in Madhya Pradesh and the second at Butibori in Maharashtra — with a total annual capacity of 3,00,000 tonnes.
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