SRF to invest Rs 113 crore for specialty chemicals plant

The Board of Directors of SRF has approved a capex proposal for setting up of a new specialty chemicals plant at its chemical complex at Dahej in Gujarat at a total investment of Rs 113 crore.
 
Meanwhile, SRF has reported a robust 127% year-on-year (yoy) jump in net profit at Rs 99 crore for the quarter ended June 30, 2014 (Q1), on back of strong operational performance. The textiles firm had profit of Rs 44 crore in a year ago quarter. The net profit jumped on the back of robust sales in most of its businesses and ramp up of production from newly commissioned units, SRF said in a statement.
 
Net sales of the company during the first quarter of 2014-15 increased by 14% to Rs 936 crore as against Rs 819 crore recorded during the same quarter last fiscal. EBIDTA or operating profit at Rs 201 crore, a growth of 47% compared to the corresponding quarter of the previous year, it added.