Indo Rama Synthetics Reports Financial Results for the Quarter Ended June 30, 2015 (Standalone)

Editor's Synopsis:

Q1-FY16 Results (comparison with Q1-FY15)

• Revenues at Rs.642.48 crore vis-a-vis Rs.718.47 crore

• Operational EBIDTA at Rs.32.55 crore vis-a-vis Rs.43.67 crore

• PAT at Rs.4.91 crore vis-a-vis Rs.22.05 crore                                                                                                                                                                                                          

Indo Rama Synthetics (India) Limited, India’s largest dedicated polyester manufacturer, today announced its un-audited results for the Quarter ended June 30, 2015.

For the quarter ended June 30, 2015, the Company’s net revenues stood at Rs.642.48 crore as against Rs.718.47 crore in the corresponding quarter of the previous year. The operational EBIDTA for the quarter stood at Rs.32.55 crore as compared to Rs.43.67 crore for the corresponding quarter in the previous year. Net Profit after Tax (PAT) for the quarter ended June 30, 2015 is reported at Rs.4.91 crore as compared to Rs.22.05 crore in corresponding quarter of the previous year.

The sales volume for the quarter increased to 79,088 tons as compared to 75,573 tons in the corresponding period of the last financial year, reflecting an increase of 4.65% on quarter basis. However, due to continuous fall in the global crude oil prices in the last several months, which led to a reduction in raw material and selling prices for the products of the Company, it has reported a lower net sales of Rs.627.92 crore as compared to Rs.705.27 crore in the corresponding period of the previous year.

About Indo Rama Synthetics (India) Limited:

Indo Rama Synthetics (India) Limited is the largest dedicated polyester manufacturer with an integrated manufacturing complex near Butibori near Nagpur in Maharashtra, with production capacity of 610,050 tons per annum, which includes Polyester Staple Fibre, Filament Yarn, Draw Texturized Yarn, Fully Drawn Yarn and Textile Grade Chips.