Eastern Silk Q3 net sales up 67.7%% at Rs 215.79 crore; PAT at Rs 1.28 crore
Kolkata, Feb.11: Eastern Silk Industries Ltd. (ESIL), the country’s leading exporter of textiles, silk furnishings/fashion fabrics and madeups, has bounced back strongly in the third quarter ended December 31, 2010 with net sales up 67.7%% at Rs 215.79 crore against net sales of Rs 128.67 crore in the corresponding quarter ended December 31, 2009. Net profit after tax for the third quarter of current year was Rs 1.28 crore against a Rs 22.57 lakh in the corresponding quarter of 2009.
Sales for the nine months ended December 31, 2010 stood at Rs 540.96 crore against Rs 398.87 crore in the corresponding quarter of 2009 while net profit was Rs 88.42 lakh against Rs 7.50 crore in the corresponding quarter of 2009. For the full year ended March 31, 2010 the company’s profit after tax was Rs 4.10 crores on net sales of Rs 543.93 crores.
About Eastern Silk
Eastern Silk, established in 1946, is a leading exporter of textiles, silk furnishings/fashion fabrics and made-ups. It is listed on the NSE. (Code: eastsilk).
ESI manufactures a wide range of textile products which include silk garments, made-ups, scarves, ties, stoles, belts etc. Buyers are spread over USA, Canada, EEC, UK, France, Scandinavian, Middle East and EFFTA countries, Japan, Australia and New Zealand. Significantly, the company has successfully moved up the value chain from handloom to high-end products in the shortest possible time.
It has around 250 global customers and several of them have been with the company for more than a decade. Some of the large customers include Silk Crafts, Fabric Xchange, Studio Image, Pongees, Sati Grupo Textil, James Hare, Kravet, etc.
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