Suryalakshmi Cotton Q1 net, revenue up

Suryalakshmi Cotton Mills Ltd., has registered a net profit of Rs 9.61 crore (up 31.97 per cent) for the first quarter ended June 30, 2011 as against Rs 7.28 crore for the corresponding quarter last year. The company revenues for the first quarter was up 28.19 per cent at Rs. 165.63 crore as against Rs. 129.21 crore for the corresponding quarter last year. The denim and yarn maker had earnings per share at Rs 7.20 against Rs 5.45. In a statement, Mr Paritosh Agarwal, Managing Director, said that the company results were positive in spite of volatility in market prices. The work on the captive power plant is progressing and expected to be commissioned it by March 2012.