SRF's Q2 net grows 17% to Rs 119 cr

SRF Ltd, manufacturer of technical textiles, chemicals and polymers, today reported a 16.78 per cent rise in consolidated net profit at Rs 119.26 crore for the September quarter, mainly on account of lower finance cost and gain in exchange currency fluctuations.
The company had reported a net profit of Rs 102.12 crore in the same quarter of the previous fiscal.
However, its total income from operations during the quarter under review fell to Rs 1,215.35 crore, as against Rs 1,241.71 crore in the year-ago period, according to a regulatory filing.
"Despite a weak global economy, the company has performed well. The global agro sector continues to remain weak. The company is using this opportunity to accelerate qualifications of various new molecules for both agro and pharma sectors," SRF Managing Director Ashish Bharat Ram said.

"Going forward, increased capex is being undertaken to ensure we have capacities in place to meet the expected rebound."
The stock of SRF today settled at Rs 1,687.05, down 3.77 per cent from the previous close, on BSE.