Gupta Synthetics' net profit up by 33 per cent in Q3

Mumbai, Jan 31 (UNI) Gupta Synthetics Limited, a leading player in the synthetic yarn industry, has seen its net profit for the quarter ended December 31, climb 33 per cent year on year to Rs 4.26 crore from Rs 3.2 crore last year.

Net Income from Operations for the quarter surged 10.1 per cent year on year to Rs 88.2 crore from Rs 80.17 crore for the corresponding quarter last year, while basic and diluted Earnings Per Share (EPS) stood at Rs 20.92 per share, said a company release here today.

For the first nine months of the current financial year, Net Profit was at Rs 10.82 crore, up 22 per cent from Rs 8.86 crore for the corresponding period last year. Net Income for the nine months climbed 11.22 per cent, to Rs 237.78 crore from Rs 213.78 crore. The basic and diluted EPS for the nine months was Rs 53.18 per share.

During the quarter, the company increased production capacity of Texturised and Draw Twisted Yarn by 9240 tons and 8050 tons respectively. This will improve the bottom line further.

The company has on hand a diversification project, involving an investment of Rs 223 crore, for the manufacture of Nylon Tyre Cord Fabric (NTCF) and Nylon Filament Yarn (NFY), which are key inputs for the tyre, textile and furnishing industries. After the diversification, the company expects sales turnover to cross the Rs 700 crore mark decisively and EBDITA of Rs 90 crore for FY09.

UNI