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Suryalakshmi Cotton Mills Ltd has posted a net profit of Rs 6.15 crore, up 12.91 per cent for the third quarter ended March 31, 2013, against Rs 5.45 core for the corresponding quarter last year.
The company’s net sales at Rs 167.42 crore for the fourth quarter was down 9.62 per cent over Rs 185.24 crore it logged for the corresponding period last year.
It closed the financial year ended March 31, 2013, with a net profit of Rs 30.36 crore and income of Rs 705.44 crore against a net profit of Rs 28.30 crore and income of Rs 668.73 crore for the previous financial year.
Paritosh Agarwal, Managing Director, Suryalakshmi Cotton, said: “The profit for the quarter was marginal due to finance cost incurred and depreciation charge with the commencement of a new 25 MW captive power plant at the company’s denim division at Ramtek in Nagpur.”
“But the overall numbers for the financial year 2013 has seen a healthy growth and the power plant will also contribute to the company by way of revenues by sale of additional power,” he said.
The company’s board has recommended a dividend of Rs 2 per share (20 per cent), subject to the approval of the members in the general meeting.
Its shares closed at Rs 60.70, down 0.49 per cent, on the BSE on Thursday.
rishikumar.vundi@thehindu.co.in
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