Shri Lakshmi Cotsyn Limited, an integrated textile player engaged in manufacturing and processing of a wide range of end-to-end textile products and safety textiles for defence and paramilitary forces, announced that its net sales rose 48% to Rs 707.2 crore for the first quarter ended September 30th, 2012 compared to Rs 478.2 crore in the corresponding period of FY 2012.
Net Profit for the quarter was up 16% to Rs. 24.2 crore as against Rs. 20.8 crore in the corresponding quarter last fiscal. Operating profit (EBIDTA) for the quarter stood at Rs 151.9 crores compared to Rs 75.6 crore a year ago. EBIDTA margin was 21.5% compared to 15.8% a year ago.
Commenting on the results, Dr MP Agarwal, Chairman & Managing Director, Shri Lakshmi Cotsyn Ltd said, "Our performance during the quarter is reflective of the cumulative growth in each of our business segments of textile, retail and defense. We hope to maintain the sustained growth achieved last year".