Indo Rama Textiles Ltd. (IRTL) announced its annual results for the year ending March 31, 2006. The profit after tax (PAT) for the year increased by 70 percent to Rs.20.90 crores as against Rs.12.28 crores for the FY 2004-2005.
EBIDTA for the year, at Rs.48.28 crores, was higher by 21 percent than the previous year of Rs39.90 crores. The net sales of the company stood at Rs.372.98 crores for the year, as against Rs391.93 crores in the previous year.
For the quarter, the operating profits (EBIDTA) grew to Rs21.09 crores from Rs16.24 crores, registering an increase of 29.7 percent.
The profit after tax (PAT) for the quarter increased by 64 percent to Rs11.38 crores from Rs6.96 crores. The net sales for the quarter were Rs.95.64 crores as against Rs.101.47 crores in the corresponding quarter last year.
Sounding a note of confidence on the occasion, Vishal Lohia, CEO, Indo Rama Textiles, said: “The recent policy announcements by the Govt. of India and the reduction in Duty on the raw material are going to be beneficial for the spinning industry.
Buoyant demand for the finished goods combined with conducive business prospects creates an encouraging and promising environment. The future outlook of the Textile Industry and IRTL in particular, is very bright.”
Indo Rama Textiles Limited is one of the largest Polyester-Cotton Blended Yarn exporters from the country with around 58 percent of its turnover constituting of exports to high-end, discerning markets of Europe, the Middle-East, Latin America, etc.
With manufacturing facilities at both Butibori, near Nagpur (Maharashtra) as well as at Pithampur, near Indore (Madhya Pradesh), it has a total capacity of around 123,000 spindles, producing around 40,000 MT of Synthetic Blended Yarns.
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