The company saw an increase in Net Profit by 31.97% as compared with the corresponding quarter of the previous year, from Rs. 728.58 Lacs for the quarter ended on June, 2010 to Rs.961.50 Lacs for the quarter ended on June, 2011.
The Earning per Share for Q1 FY11-12 stands at Rs. 7.20 against Rs. 5.45 in Q1 FY10-11.
Commenting on the results, Paritosh Agarwal, Managing Director said, “Our Company has posted positive results, despite the volatility in raw material prices. Our team is positive about the fall in cotton prices & favorable market conditions reinforcing a stable growth. The work on the Captive Power Project is on schedule and progressing satisfactorily and we are confident of commissioning it before March, 2012. We express our gratitude to our shareholders for showing their faith and supporting us.”
About Suryalakshmi Cotton Mills Ltd
Suryalakshmi, one of the major players in the textile industry in South has modern spinning units at Amanagallu in Mahboobnagar District in Andhra Pradesh and a 40 million meter denim plant at Ramtek near Nagpur, Maharashtra. The company’s subsidiary Suryakiran International Ltd, located in the outskirts of Hyderabad, is into the manufacture and export of denim garments. Suryalakshmi’
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