India - SRF Q4 net profit dips 36 per cent to Rs 86 crore
Dated- 01 May , 2012 - India
Technical textile maker SRF reported a decline of 36 per cent in its consolidated net profit to Rs 86 crore for the quarter ended March 31, 2012, mainly due to higher input costs.
The company had reported a net profit of Rs 136 crore during in the corresponding quarter of FY'11.
Net sales of the Gurgaon-based company, during the quarter under review, declined marginally by 2.83 per cent to Rs 822 crore from Rs 846 crore reported in the fourth quarter of 2011-12, the company said in a statement.
Total expenditure of the company rose by 11 per cent to Rs 722.82 crore in Q4 of last fiscal, while its cost of consumed material increased by 6.35 per cent to Rs 484.12 crore.
For the full year 2011-12, the company reported a consolidated net profit of Rs 483.44 crore, almost the same as it had reported in FY'11.
The net sales of the company, however, increased by over 15 per cent to Rs 4,004.38 crore in the last fiscal.
"Except for the chemicals and polymers business, the profitability declined for both the technical textiles and packaging films businesses," the company said, adding that operating profit of the chemicals and polymers business grew by 12 per cent to Rs 114 crore.
"The year 2011-12 was certainly a tough year for the company, as we struggled to maintain our profitability. Unfortunately, the outlook for the year ahead is not much better with the economic sentiment at a low," SRF's Managing Director Ashish Bharat Ram said.
He added that the company expects to commission chemical complex in Gujarat's Dahej by third quarter of 2013-14.