Indo Rama announced Huge Profit

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Indo Rama announced Huge Profit
India's largest dedicated polyster manufacturer,Indo Rama Synthetic, announced its annual and Q4 results for the financial year ended March 31, 2011.

According to the press release issued by the company, gross sales stood at Rs 3,000 crore up by 12.81%. It has reported an EBIDTA of Rs 223.54 crore in 2010, where as for 2011 it has announced EBIDTA of Rs 417.51 crore registering an increease of 86.77%. The PAT for the year has jumped from Rs 7.13 crore to Rs 139.41 crore in FY11.

For the quarter ended March 31, 2011, the company recorded gross sales of Rs 920.87 crore, an increase of 37.85% year-on-year. EBIDTA for the quarter has been Rs 203.58 crore as compared to Rs 55.23 crore in the same period last year, a marked increase of 268.60%. During the quarter, the PAT increased from Rs 5.03 in March FY 2010 to  Rs 100.68 FY2011.

On the occasion OP Lohia, Chairman and Managing Director, Indo Rama Synthetics (India) said, "During the year the Polyester business witnessed a better demand supply balance coupled with firm Cotton prices leading to increased realisations."

He further added: "Our efforts to increase internal value addition and highly focused control on cost also helped us in increasing the bottom line. The company has further expanded its reach to new export markets. The development of new products with niche markets has created a long term boost to the company."

The board has also recommended a dividend of 10%.

OneIndia Money

Read more about: indo rama, textile, result, bse, nse
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