Sutlej Textiles Q4 jumps 78% to Rs 48.81 cr

Sutlej Textiles and Industries today reported a 78 per cent rise in net profit to Rs 48.81 crore in the March quarter, on the back of higher income from yarn and fabric segment.
The company's net profit in the corresponding quarter of the last fiscal stood at Rs 27.42 crore.
Its net income from operations rose to Rs 549.62 crore during the January-March quarter, as against Rs 468.14 crore in the year-ago period.
However, its expenses also shot up to Rs 500.30 crore in the quarter under review, as compared to Rs 430.48 crore in 2014-15.
"Inspite of challenging headwinds for the sector with margins under pressure, we continue to concentrate on enhancing our scale of operations which will ensure consistent performance coupled with growth," Sutlej Textiles and Industries Ltd Chairman CS Nopany said.

"Work on creating new capacities in our Rajasthan Textile Mills for producing value added products and expansion of Home Textiles is progressing as per schedule. Once completed, these will enable us to enhance our domestic as well as global footprint," Nopany added.
The Board of Directors of the company has also recommended a Rs 13 per equity share for the year ended March 2016.