Suryalakshmi Cotton Q3 net up 8%

Last Updated: Mon, Feb 04, 2013 05:39 hrs

Hyderabad-based Suryalakshmi Cotton Mills Limited, a vertically-integrated textile manufacturing company, reported a 7.65 per cent increase in net profit to Rs 7.03 crore for the third quarter ended December 2012, compared with Rs 6.53 crore in the corresponding quarter of the previous year.

Net sales stood at Rs 173.79 crore, as against Rs 150.96 crore during the same period a year ago, reflecting a growth of 15.12 per cent, while earnings per share (EPS) was at Rs 4.84 from Rs 4.89.

"The profit for this quarter was marginal due to the steep increase in power tariff, apart from overhead expenses incurred in the commencement of a 25-Mw captive power plant at our denim division at Ramtek near Nagpur. We expect the next quarter to pool in profits at a larger length with the power plant's surplus power being sold out," its managing director, Paritosh Agarwal, said in a release.

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