Textile firm Shri Lakshmi Cotsyn Limited (SLCL) today said its net profit rose by 16.02 per cent to Rs 23.24 crore for the first quarter ended September 30, 2010.
The company had a net profit of Rs 20.03 crore in the same period previous fiscal, SLCL said in a filing to the Bombay Stock Exchange (BSE).
Total revenue for the quarter stood at Rs 418.63 crore a rise of 16.88 per cent as against Rs 358.16 crore in the corresponding period last year.
"During the period we have sold out our value-added bed sheet products. The product has been well received by the market and we now have a backlog of orders," SLCL CMD M P Agarwal said.
He further added: "Given the positive response, the company is planning organic growth in tier II cities over the next quarter".
Shares of SLCL were trading at Rs 153 on the BSE in the afternoon trade, down 1.86 per cent from its previous close.
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