Suryalata Spinning Mills Q3FY11 Profit up by 287 %

Hyderabad, January 31: Hyderabad based and listed on the BSE, Suryalata Spinning Mills Limited (SLSML) one of the largest producers of Yarn has announced its Q3, FY11 results today. The company has posted a 287% rise in net profit at Rs.5.57 Cr for the quarter ended on 31st December 2010, as compared to Rs.1.44 in the corresponding quarter of the previous year.

Suryalata’s Income from operation has increased by 57 % when compared with corresponding quarter of the previous year, to Rs 67.50 Cr for the quarter ended December 2010 from Rs. 42.96 Cr for the quarter ended December 2009 whereas EPS stands at Rs.17.03 for the quarter and Rs.40.12 for nine months ended 31.12.2010.

Commenting on the results, Mr. Mahender Kumar Agarwal, JMD said, “We are immensely pleased with the results. The economy is in revival mode and with the added capacity we hope to further increase our export revenue next quarter apart from the domestic sales. “

About Suryalata Spinning Mills Limited.

Hyderabad based and listed on the BSE, Suryalata Spinning Mills Limited (SLSML) was established in 1983 and is one of the largest producers of Yarn, manufacturing 100% Polyester and 100% Viscose yarn of counts ranging from 20s to 60s as well as Polyester / Viscose blended yarns. The promoters of SLSML are veterans in the textile business and they carry a vast knowledge & experience of over 50 years in the Textile Industry.

The Company has two manufacturing units located at Kalwakurthy and Urkondapet in the district of Mahbubnagar Andhra Pradesh, which is about 100 kms from Hyderabad. The Kalwakurthy unit is spread over 34 acres of land has an installed capacity of 36288 spindled whereas the Urkondapet unit is spread over 60 acres of land having a manufacturing capacity of 35136 spindles making a total of 71424 spindles as a whole.

The Company provides world-class quality yarn at a competitive price to cater to the domestic as well as international markets. It has over the years built and maintained long-term relationship with customers on account of its excellent service thereby ensuring steady performance year on year. Besides having a wide spread domestic presence, the Company also has developed a good market network overseas and presently exports its products to various countries viz. Brazil, Argentina, Iran, Italy, Spain, Portugal, UK, Turkey, Taiwan, and Latin American Countries.

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This release was published on openPR.