Textile firm Shri Lakshmi Cotsyn announced that its net profit rose by 40.72 per cent to Rs 38.98 crores for the third quarter ended March 31, 2012. The company had posted a net profit of Rs 27.7 crores during the same period of previous year, SLCL said in a filing to the BSE. The net sales of the company rose to Rs 695.14 crores during the quarter compared to Rs 437.78 crores during the same period of previous year.
For the nine months period ended March 31, 2012, the company’s net profit stood at Rs 84.14 crores compared to Rs 76.79 crores in the year ago period. The company’s net sales stood at Rs 1,700.57 crores against Rs 1,285.24 crores in the same period of last year.
Shri Lakshmi Cotsyn, a $400 million company is considered amongst one of the premier manufacturers of home furnishing products and enjoys the competency in manufacturing denim fabric, terry towels, bed linen, cotton fusible interlining, embroidered fabric and technical textile products. It recently moved into technical textile segment, which is considered as the key factor behind the growth in its sales.