Sutlej June quarter net profit zooms over three-fold to Rs 15 crore

Sutlej June quarter net profit zooms over three-fold to Rs 15 croreSutlej Textiles and Industries have announced its April-June quarter financial results for the fiscal year 2010-11. According to the report, it has registered a significant three fold net profit rise in the reviewed quarter.

Sutlej Textiles and Industries have managed to post a net profit of Rs 15.54 crore for the April-June quarter of the year that ended in 30th June, 2010 which is almost three times of the net profit figure of the similar quarter in the last fiscal.

The net sales of the company have gone to Rs 348.67 crore during the April-June quarter of fiscal year 2010-11.

It was reported to be Rs 247.99 crore for the same quarter in the preceding year. There has been a reasonable hike in the net sales of the company in the quarter under review against its year ago like period.

The company has reported this fact in a statement. Chairman of Sutlej Textiles and Industries Limited has informed that superior domestic demand and a boost in rural economy has affected the textile industry of the country positively and helped the firm to produce a better performance in Q1.