Sutlej net up by 365 pc at Rs 11.21 cr for Q1

New Delhi, Jul 24: Sutlej Textiles and Industries Ltd (Sutlej) today reported a 365 per cent increase in its net profit at Rs 11.21 crore for the quarter ended June 30, 2006 compared to Rs 2.41 crore during the same quarter last year.

Sutlej also reported a 26.75 per cent gain in net sales at Rs 169.42 crore during the quarter as against Rs 133.67 crore in the corresponding quarter the previous year.

Briefing reporters about the performance of the company, Mr C S Nopany, Vice Chairman of Sutlej, said, ''The textiles industry in India has slowly emerged as a major player in the global scenario.

Sutlej has been focusing on value addition along with sustained growth in both the top line as well as the bottom line. Sutlej is today well positioned to capitalise on the unfolding opportunities in this sector in India and abroad.'' The earning per share (of Rs 10 each) also went up by 352.42 per cent at Rs 10.27 compared to Rs 2.27 per day last year.

UNI