Raymond, Alok Inds, Upper Ganges quaterly results

Raymond revenues dip 10%

Textile and apparel major Raymond has reported 10 per cent dip in net revenues during the fourth quarter ended March 31, 2007. The company registered net revenues of Rs 347.73 crore compared with Rs 384.25 crore during the corresponding period in the previous year.

The company recorded 3 per cent drop in net revenues at Rs 1,284.19 crore for the year ended March 31, 2007 compared with Rs.1,324.74 crore in the previous year. The company's consolidated net revenues increased 19 per cent for the FY06-07. However the company's net profit has marginally increased from Rs 136.03 crore to Rs 139.99 crore. During the financial year, it registered consolidated net revenues of Rs 2,040.68 crore against Rs 1,710.64 crore in the corresponding period last year.

The consolidated numbers were significantly impacted as the company's joint venture Raymond UCO Denim incurred losses owing to the oversupply situation in the global denim market. The company maintained that the results for the year ended March 31, 2007 includes the results of the erstwhile denim division for only four months of the year and is therefore not strictly comparable to the previous year. The textile division registered a growth of 14 per cent to Rs 992.22 crore against Rs 868.44 crore in the previous year.

Exports spur Alok Inds profit 127%

Alok Industries, a vertically integrated textile company, has posted a rise of 126.81 per cent in its net profit at Rs 78.68 crore for the quarter ended March 31, 2007 compared with Rs 34.69 crore in the corresponding previous quarter. The company's net sales grew to Rs 574.08 crore in the quarter from Rs 407.74 crore, up 40.8 per cent. The growth mainly came from the company's growth in its export business.

Exports contributed Rs 257 crore in its net sales, a rise of over 119 per cent against Rs 117 crore in the corresponding quarter last year. "Better results are due to the healthy export growth in the quarter. The other two factors which helped achieve an increase of 41 per cent in our top line are the company's focus on value-added products and backward integrated benefits," said Sunil Khandelwal, chief financial officer. US, European countries, Japan, Australia, Middle East and Latin American countries proved to be better exports markets, he added.

Upper Ganges reports loss in Q3

K K Birla group company, Upper Ganges Sugar & Industries, has registered a loss after tax of Rs 5.09 crore in the third quarter ended March 31, 2007, compared with a profit after tax of Rs 9.99 crore in the same period last year. The company's turnover stood at Rs 73.44 crore, a dip of 38.29 per cent.

The company has attributed the decline to the sharp increase in cane prices and a record sugar production, resulting in low sugar prices. The company believes that its policy of concentrating on co-products such as ethanol and cogeneration of power would stabilise its operations.