Spentex posts Q3 net of Rs 12.80cr, turnover Rs 256.41cr

New Delhi, Jan 30 (UNI) Spentex Industries today recorded a net profit of Rs 12.80 crore in Q3 FY07, increasing substantially by 200.47 per cent from Rs 4.26 crore in Q3 FY06.

The nine-month figures of the company also showed a steady growth of 126.77 per cent in its turnover to Rs 606.68 crore from Rs 267.53 crore in the corresponding period last year.

The net profit during April-December climbed to Rs 15.65 crore, an increase of 43.18 per cent from Rs 10.93 crore during the same period last fiscal.

Consolidated income of the company stood at Rs 256.41 crore for the quarter ended December 31, 2006, an increase of 252.94 per cent from Rs 72.65 crore in the corresponding quarter last year.

The EPS of quarter ended December '06 was at Rs 1.92 (basic) and Rs 1.79 (diluted).

Mr Mukund Choudhary, Managing Director, Spentex Industries, said, ''The acquisitions completed by us have started contributing to our revenues, and the expanded capacities at our two plants have also started adding to the turnover. The expansion initiatives of the company would further be supported by our concerted efforts to integrate our operations, and we expect much better performance of the company in the coming time.'' The figures of the current quarter and nine months include the figures post merger of Indo Rama Textiles Ltd with Spentex Industries Ltd and its subsidiaries Amit Spinning Industries Ltd, Spentex Netherlands B V and step down subsidiary Spentex Tashkent Toytepa LLC, the company stated in a note issued here.

Currently, Spentex Industries has eight plants -- six in India and two in Uzbekistan with a total production capacity of 3,50,000 spindles in India and 2,20,000 spindles in Uzbekistan along with 236 airjet weaving looms.

UNI