Indo Rama net profit down by 34.34% due to high input costs

New Delhi, Jan 19 (UNI) Indo Rama Synthetics India Ltd (IRSL) today reported 34.34 per cent fall in its net profit at Rs 3.04 crore for the quarter ended December 31, 2006, against Rs 4.63 crore over the same period last fiscal due to high raw material and interest costs.

While, the company has posted 34.7 per cent rise in net sales at Rs 536.91 crore for the quarter ended December 31, 2006.

The profit is marginally down due to increase in interest cost from Rs 5.01 crore to Rs 12.67 crore and depreciation change from Rs 25 crore to Rs 28.01 crore during the quarter, a company statement said.

IRSL is the country's largest dedicated polyester manufacturer with an Integrated Manufacturing Complex at Butibori, near Nagpur in Maharashtra producing around 450,000 tonnes per annum of polyester staple fibres, filament yarns, textured yarns and textile grade chips.

UNI