Textile manufacturing company JCT Ltd's net profit plummeted 67 percent at Rs2.21 crore for the quarter ended March 31 2006 as compared to Rs6.87 crore for the same period last year.
Company's net sales for this quarter stood at Rs134.56 compared to Rs134.15 period under consideration.
Strike at Sriganganagar manufacturing unit in last quarter was the main reason for decline in net profit.
Company raised $30 million through 2.5 percent Foreign Currency Convertible Bond (FCCB) to finance its expansion and modernization plan of Rs300 crore.
JCT is the flagship company of the Thapar group. The Group has diversified industrial interests ranging from Textiles, Paper, Chemicals, Edible Oils, Manmade Fibres, Steel Wires, Glass, Engineering, Electronics, Hydro Consultancy, Shipping, etc.
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