Suryajyoti Spinning posts a 333% rise in net profit

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Hyderabad based Suryajyoti Spinning Mills Ltd.,leading manufacturers of Yarn and Fabric has announced its audited annual financial results for FY2010-2011.
Suryajyoti has posted a 333% rise in Net Profit at Rs.1583 lakhs for the year ended 31st March 2011, as compared to Rs. 366 lakhs in the previous year ended 31st March 2010.
The Company’s Net Sales soared to Rs. 39426 lakhs for the year posting a rise of 46% as compared to Rs. 26953 lakhs in the previous year.
The EPS of the Company has surged to Rs.9.73 compared to Rs.2.26 in the previous year, resulting an increase of 331%.
Commenting on the results, Mr. Arun Agarwal, Executive Director said, "We are highly pleased with the company’s performance in FY10-11. The global textile economy has recovered and we’ve witnessed a tremendous increase in the demand for textile products across the globe. We are further upgrading our spinning facilities to cope with the rising demand and we hope to please our stakeholders in the next year with our consistent performance.”
Suryajyoti Spinning Mills Limited started operations in 1992 and over a period increased its capacity to 86,560 spindles. The Company produces a very high quality of yarn of international standards and exporting to various countries in all the product range viz. Cotton, Polyester spun, Poly Viscose blend, Poly Cotton blend and 100% Viscose spun, in count range of 16’s to 80’s. The Company has multi-locational Yarn manufacturing facilities at Burgul, Makthal and Rajapur in Mahabubnagar District in Andhra Pradesh.

Source: http://www.fibre2fashion.com/news/textile-news/newsdetails.aspx?news_id=99394

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