Indo Rama net sales up 26.5 pc at Rs 2,545.52 cr in FY07-08

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New Delhi, Jun 30 (UNI) Indo Rama Synthetics (India) Ltd, the country's largest polyester manufacturer, today said its net sales for FY07-08 rose by 26.5 per cent to Rs 2,545.52 crore, as compared to Rs 2,011.68 crore during the same period a year ago.

EBIDTA for the year also registered an increase of 34.6 per cent at Rs 238.29 crore, against compared to Rs 177.02 crore previous year.

Set up in 1992, the company clocked a net profit of Rs 3.02 crore for the year, down by 85.4 per cent compared to last years at 20.64 crore, a statement said.

Exports recorded a phenomenal 69,635 MT, a growth of 111.15 per cent over the previous years' 32,979 MT.

The company's Board of Directors has declared an annual dividend of 10 per cent.

IRSL Q4 net sales stood at Rs 644.17 crore, higher by 5.02 per cent against Rs 613.36 crore in the corresponding period last year.

''Our performance during the year, especially in the second half of the year, was impacted by lack lustre performance of the textile industry which impacted polyester demand and margins. In spite of that we have registered a healthy top line growth,'' company Chairman and Managing Director O P Lohia said.

He added that polyester demand has been robust over the first quarter of this fiscal.


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