Hyderabad, India (PressExposure) November 10, 2010 -- Hyderabad based and listed on the BSE, Priyadarshini Spinning Mills Ltd. (BSE Code: 503873; one of India's leading producers of Polyester/Viscose blended yarn manufacturing from counts of 20s to 76s.
Priyadarshini's Net Revenue has increased by 23% compared with the last quarter of current financial year, from Rs 53.14 Crores for the quarter ended June 30, 2010 to Rs 65.17 Crores for the quarter ended September 30, 2010
Turning out an impressive show for the quarter ended 30th September, 2010 the Company has reported a PAT of Rs. 5.60 Cores on a turnover of Rs 118.31 Crores showing an EPS of Rs.5.06 for the 1st half.
The turnover has gone up by 38% whereas the EBIDTA has gone up by 46% from Rs.3.98 Crores to 5.80 Crores compared to corresponding quarter in the previous year. The EPS at Rs.2.79 for the quarter is up from Rs. (1.21) from the same quarter in the last year. The results from the segments viz., Spinning & yarn dying have shown significant rise and the Company expects to do better in the future.
Commenting on the results, Mr. Harish Cherukuri, Managing Director of Priyadarshini Spinning Mills Ltd. said, "The company has achieved satisfactory results in the current quarter and is looking to modernize its manufacturing units to improve its quality, productivity and profitability further".