Sangam Q1 net profit surges 71 pc

Mumbai, Aug 1 (UNI) Leading dyed-yarn manufacturer Sangam (India) has posted a net profit of Rs 7.11 crore for the quarter ended June 30, 2006 as compared with Rs 4.16 crore in the corresponding quarter last year, a jump of 71 per cent.

Announcing the results, the Company said its total income rose to Rs 96.2 crore from Rs 73.96 crore in the corresponding quarter last year.

The Company has an order book position of Rs 110 crore, to be executed in the next three months and also has outstanding export orders worth Rs 40 crore. It had also received an export order worth Rs 9 crore from Poland.

Meanwhile, the Company said its on-going expansion plan of 97000 spindles, 140 looms, coke based captive power plant with a capacity of 21 mw and fibre dyeing capacity of 30 MT with processing capacity of 50000 meters per day has progressed as per schedule.

The Company is de-risking its business model by diversifying into cotton yarn segment thereby positioning into a one-stop-shop experience for yarn customers.

UNI SN MAZ AW1706