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SRF Ltd, an industrial intermediates manufacturer, has doubled its net profits for the June quarter to Rs 44 crore on higher income and reduced foreign exchange losses.
SRF had reported a net profit of Rs 22 crore in the June quarter last fiscal.
Income for the quarter was up 1.61 per cent at Rs 824.91 crore (Rs 811.77 crore).
The SRF scrip ended a tad lower at Rs 138.10 on the BSE.
New plant
The SRF board on Friday approved a capital expenditure proposal to set up a new plant at its newly developed chemical complex at Dahej in Gujarat at a total investment of about Rs 50 crore.
The new plant would manufacture speciality chemicals to cater to the agrochemical industry.
Revenues from technical textiles, the flagship business, grew marginally to Rs 436 crore.
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