Sutlej Textiles and Industries Ltd today said its net profit declined by 11.61% to Rs 13.7 crore for the first quarter ended June 30, 2011, over the same period previous fiscal.
The company had a net profit of Rs 15.5 crore in the same period last fiscal, Sutlej Textiles said in a statement.
The company's net sales rose to Rs 413.8 crore for the first quarter ended June 30, as compared to Rs 348.7 crore in the same period previous fiscal.
Commenting on the results Sutlej Textiles and Industries Ltd Chairman C S Nopany said: "The textile industry is going through an upheaval due to significant declines in the prices of raw materials and finished goods creating uncertainty amongst the mind of buyers."
"I am glad that Sutlej has been able to minimise the impact of depressed markets in the first quarter and is geared up to meet the challenges being posed by the difficult market conditions," Nopany added.
Shares of Sutlej Textiles today closed at Rs 213.30 on Bombay Stock Exchange, down 0.77% from its previous close.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app