Indo Rama Synthetics Limited Announces Audited Consolidated and Standalone Earnings Results for the Fourth Quarter and Full Year and Consolidated Financial Results for the Full Year Ended March 31, 2017
Indo Rama Synthetics (India) Limited announced audited consolidated and standalone earnings results for the fourth quarter and full year and consolidated financial results for the full year ended March 31, 2017. For the quarter ended March 31, 2017 on standalone basis, the company's net revenue stood at INR 6,098.1 million as against INR 7,222.8 million a year ago. The operational EBIDTA for the period stood at INR 98.6 million as compared to INR 297.5 million in the corresponding quarter in the previous year. Loss before tax was INR 322.30 million as compared to INR 242.70 million a year ago. The net loss for the quarter ended March 31, 2017 is INR 150.3 million or INR 0.99 per share against net profit of INR 886.3 million or INR 5.84 per share in the corresponding quarter in the previous year.
For the financial year ended March 31, 2017 on standalone basis, the net revenue stood at INR 27,295.7 million as compared to INR 27,911.5 million in the previous year. The operational EBIDTA was INR 237.6 million as compared to INR 899.4 million in the last fiscal year. Loss before tax was INR 1,380.10 million as compared to INR 960.10 million a year ago. The net loss of the company was INR 842.3 million for the current financial year or INR 5.55 per share as against net profit of INR 370.3 million or INR 2.44 per share during the last financial year.
For the year on consolidated basis, the net revenue stood at INR 27,333.50 million as compared to INR 27,856.00 million in the previous year. The operational EBIDTA was INR 27,058.10 million as compared to INR 27,012.10 million in the last fiscal year. Loss before tax was INR 1,342.30 million as compared to INR 960.10 million a year ago. The net loss of the company was INR 814.30 million for the current financial year or INR 5.30 per share as against net profit of INR 375.80 million or INR 2.44 per share during the last financial year.
Indo Rama Synthetics (India) Ltd. is an India-based polyester manufacturer. The Company is engaged in the business of trading and manufacturing of polyester filament yarn (PFY), polyester staple fiber (PSF), draw texturized yarn (DTY), specialty fiber and chips. It is setting up a project to manufacture polyester chips and draw texturized yarn. It is engaged in trading of spun yarn, and also engaged in power generation, which is used primarily intended for captive consumption. The Company has a power generation capacity of approximately 71.08 megawatts. Its offerings include PSF (2,63,550 TPA), PFY (2,59,000 TPA), DTY (1,38,946 TPA), Polyester Chips (87,500 TPA). Its products have various applications in various industries, such as apparel and sportswear, home furnishing and textiles, hygiene and non-woven and automotive industries. Its subsidiaries include Indorama Yarn Private Limited, Indorama Ventures Yarn Private Limited and Indorama Sustainable Polymers (India) Private Limited.
Indo Rama Synthetics Limited Announces Audited Consolidated and Standalone Earnings Results for the Fourth Quarter and Full Year and Consolidated Financial Results for the Full Year Ended March 31, 2017