Shri Lakshmi Cotsyn Q1 net profit up 41%

Shri Lakshmi Cotsyn has announced its net profit rose 41.3 per

cent to Rs 403 million for the quarter ended June 30, 2012, as against Rs 285 million in the corresponding quarter last fiscal. The company is an integrated textile player engaged in manufacturing and processing of a wide range of end-to-end textile products and safety textiles for defence and paramilitary forces. Its net sales increased 35.7 per cent to Rs 696.2 crores for the same quarter compared to Rs 513 crores reported in the same period of FY 2011. In Q4 FY2012, EBIDTA more than doubled to Rs 157.0 crores from Rs 76.4 crores in Q4 FY 2011.

For the year ended June 30, 2012, the company reported consolidated net sales of Rs 2,396.8 crores, an increase of 33.3 per cent vis-à-vis Rs 1,798.4 crores in FY2011. In FY-12, the net profit increased 19.5 per cent to Rs 124.4 crores compared to Rs 104.1 crores in the year ago period. EBITDA for the year was Rs 445.9 crores compared to Rs 274.0 crores in the corresponding period of the last year.

Commenting on the results, MP Agarwal, Chairman & MD, Shri Lakshmi Cotsyn said, “The quarter has been a fulfilling one for us with our topline growth. We hope to continue this trend and take the Shri Lakshmi legacy forward.”