Press release
Suryajyoti Spinning Mills Q3FY11 profit up by 184%
Hyderabad, January 31, 2011 Suryajyoti Spinning Mills Ltd. (BSE Code: 521022; NSE Symbol: SURYAJYOTI) leading manufacturers of Yarn and Fabric today announced its Q3 results. Suryajyoti has posted a 184% rise in Net Profit at Rs.576 lakhs for the Quarter ended December 31st 2010, as compared to Rs. 203 lakhs in the corresponding period of the previous year.The company’s revenues soared to Rs. 10466 lakhs for the quarter posting a rise of 54% as compared to Rs. 6812 lakhs in the corresponding period of the previous year.
The EPS of the Company has surged to Rs.3.57 compared to Rs.1.25 in the corresponding period of the previous year, resulting an increase of 186%.
Commenting on the results, Mr. A K Agarwal, Executive Director, Suryajyoti Spinning mills Ltd said, “Our results are in line with our expectations for the quarter. With the company's future expansion plans, we look forward to a sustained growth & will try to keep the same faith & expectations of our stake holders.
About Suryajyoti Spinning Mills Ltd
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.
As a part of forward integration, the Company had entered into a value-added Bottom-weight fabric business by setting up a state-of-art facility in Kucherkal village in Mahabubnagar District with a capacity of 20 million meters per annum. Commenced Commercial Production on 01.10.2009. The Project was set up with the Technical Collaboration with Pangea Srl, Italy. This is the first of its kind in entire Andhra Pradesh. It will be one of the few in India to give speciality bottom weight and outerwear fabrics.
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