By IANS,
New Delhi: Polyester manufacturing major Indo Rama Synthetics (India) Ltd managed to improve its margin at a net profit of Rs.4.18 crore for the second quarter ending Sep 30 as against a net loss of Rs.13 crore during the like period in the last fiscal.
“The demand for polyester products has gone up as compared to previous year, resulting in higher sales for the quarter,” said O.P. Lohia, chairman and managing director of Indo Rama Synthetics (India) Ltd.
“With the soaring cotton prices and other fibre… polyester demand is expected to rise further. I am optimistic next quarter will be even better,” he added.
The net sales of the company for the quarter under review increased 18 percent at Rs.705.21 crore compared to Rs.597.37 crore in the corresponding quarter of last fiscal.
The company is also planning to set up a 45 MW power project in addition to its existing generation capacity of 82.5 MW. It has got coal linkages for 30 MW in hand and is contemplating to enhance the same to 45 MW.