The Hindu Business Line : Himatsingka standalone net dips 25%

Textile manufacturer Himatsingka Seide has reported a 25 per cent dip in standalone net profit for the second quarter ended September 30, 2009, at Rs 4.76 crore (Rs 6.4 crore). But total revenues rose 13 per cent to Rs 115.5 crore. Consolidated net profit rose from Rs 2.99 crore to Rs 7.19 crore in Q2, while total income rose 12 per cent to Rs 292 crore. Giving a positive outlook for the year ahead, Mr Shrikant Himatsingka, Executive Director, said, “The performance of the manufacturing and distribution divisions have shown significant improvement during the quarter. While certain input costs have increased, the robust order book, cost optimisation initiatives and the commissioning of the captive power plant during the current quarter will drive performance going forward.”

– Our Bureau

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