INDIA: Super Spinning Mills Q2 Net Falls

The profitability of Super Spinning Mills Ltd during the second quarter ended September 30 has declined with its profit before tax (PBT) falling to Rs 2.28 crore as compared to Rs 6.35 crore for the same period in the previous fiscal. Its net profit after adjusting the tax provisions for the just-concluded quarter went down further to Rs 1.60 crore as against Rs 6.05 crore in the previous year.

This is despite a marginal rise in its net sales during the quarter when its sale income rose to Rs 79.98 crore as against Rs 78.02 crore realised on September 30, 2002.

The audited financial results adopted by board show that its profit (before tax) at Rs 2.28 crore as a percentage to its sale fell to 2.85 per cent as compared to 8 per cent in the previous year when its PBT was at Rs 6.35 crore.

Source: Agencies.

November 22, 2003

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Added: November 22, 2003
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