SRF Q4 net rises 23% at Rs 136 cr

Diversified firm SRF today said its net profit rose by nearly 23% to Rs 136.08 crore for the fourth quarter ended March 31, 2011.

Total income rose to Rs 852.01 crore for the fourth quarter, compared to Rs 680.91 crore in the same period last fiscal, SRF said in a statement.

"The packaging films business has had an outstanding year but going forward the margins in this business are likely to come under pressure due to changed business environment. We are hopeful that our other businesses will help us bridge the gap," SRF Managing Director Ashish Bharat Ram said.

Apart from technical textiles business, the company is engaged in several business verticals, including refrigerants, engineering plastics and industrial yarns.

For the year ended March 31, 2011, the company's net profit stood at Rs 483.44 crore, compared to Rs 309.42 crore in the previous fiscal.

The company's total income for the year rose to Rs 3,063.28 crore, as against Rs 2,193.85 crore in the last fiscal.

The company's board had earlier during the year approved several projects to be set up at a total investment of around Rs 1,500 crore.

Shares of SRF today closed at Rs 332.90 on the Bombay Stock Exchange, down 0.12% from its previous close.