Indian Rayon net up 56% to Rs 39 cr

Indian Rayon's net profit rose by 56.4 per cent to Rs 38.59 crore in the second quarter against Rs 24.67 crore in the same period last year. Turnover during the same period was Rs 563.04 crore compared with Rs 466.03 crore, an increase of 20.8 per cent.

Revenues for the first half was Rs 1,048 crore, up 19 per cent from Rs 882 crore in the same period last fiscal. Net profit for the same period rose 52 per cent from Rs 45.5 crore to Rs 69.3 crore.

The company reported a 440 per cent increase in its consolidated net profit to Rs 37.56 crore in the quarter ending 30 September from Rs 6.95 crore in the same period last year. Its consolidated turnover went up by 25.2 per cent at Rs 945.08 crore in the second quarter against Rs 754.84 crore in the corresponding quarter last year.

The consolidated revenue for the first half ended 30 September increased 24 per cent to Rs 1,719 crore from Rs 1,384 crore in the same period last year. The consolidated net profit was Rs 70.6 crore, a 473 per cent increase from Rs 12.3 crore over the same period.