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Indo Rama net sales at Rs. 703.52 cr

Posted on Jan 30, 05:01PM | IBNS

Gurgaon, Jan 30 : Indo Rama Synthetics (India) Limited, India's largest dedicated polyester manufacturer, on Wednesday announced its un-audited financial results for the third quarter and Nine Months ended December 31, 2012. For the quarter ended December 31, 2012, the net sales stood at Rs. 703.52 crore as compared to Rs. 768.84 crore for the corresponding quarter in the previous year.

PAT has turned positive to 1.83 Crore from a negative PAT of Rs 32.11 Crore for the corresponding quarter in the previous year. EBITDA grew to Rs. 52.03 crores as compared to Rs. 12.12 crores in Q3FY12.

For the 9 months ended December 31, 2012, the net sales stood at Rs. 2203.31 crore as compared to Rs. 2176.02 crore for the corresponding period in the previous year. EBITDA grew to Rs.221 crores compared to Rs. 149.16 crores in 9MFY12.

PAT increased to Rs 79.32 crore as compared to Loss of Rs. 3.51 crore for the corresponding period in the previous year.

EPS stood at Rs. 5.22 as on 31st December 2012 vis--vis negative EPS of Rs. 0.23 for the corresponding period end last year.

O P Lohia, Chairman and Managing Director, Indo Rama Synthetics (India) Limited, said, "In spite of slowdown in global trade and inflationary pressure in domestic market, the company has been able to withstand the same and been able to deliver better profitability vis--vis corresponding period last year.

"There are lots of initiatives the company has taken to enhance operational efficiency in the current financial year to ensure sustainable growth year on year. The payoff from our cost optimization projects and improvement in overall economic environment should help us deliver better performance in the coming quarters."