SRF Q3 net profit up 41% to Rs 101-cr

SRF Ltd, manufacturer of technical textiles, chemicals and polymers, today reported a 41 per cent jump in its consolidated net profit to Rs 101 crore for the third quarter ended December 2015.
The company had posted a net profit after taxes, minority interest and share of profit of associates at Rs 71.4 crore during the same quarter of the previous fiscal.
However, the net sales of the company declined to Rs 1,097.37 crore during the October-December quarter of 2015-16 from Rs 1,113.15 crore in the same period of the previous fiscal, SRF Ltd said in a statement.
The financial result reflects the negative impact of Chennai floods on the regular operations of the company's Manali facility, the company said.

"The Chennai floods affected our technical textiles business very badly. However, our other businesses have continued to grow well and ensured that the company has performed well this quarter," Ashish Bharat Ram, Managing Director, SRF Ltd, said.
The company's share closed at Rs 1,133.55 on the BSE, down 0.9 per cent from the previous close.