SRF Limited Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended September 30, 2016
November 11, 2016 at 09:13 am EST
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SRF Limited reported unaudited consolidated earnings results for the second quarter and six months ended September 30, 2016. For the quarter, the Group reported gross sales of INR 11,942.0 million, profit from operations before other income, finance costs and exceptional items of INR 1,662.9 million, profit from ordinary activities before tax of INR 1,490.5 million and net profit of INR 1,192.6 million or INR 20.77 per diluted share (not annualized) compared to gross sales of INR 12,752.2 million, profit from operations before other income, finance costs and exceptional items of INR 1,647.8 million, profit from ordinary activities before tax of INR 1,382.4 million and net profit of INR 1,441.9 million or INR 25.11 per diluted share (not annualized) reported in the same period last year.
For the six months, the Group reported gross sales of INR 24,674.2 million, profit from operations before other income, finance costs and exceptional items of INR 3,833.1 million, profit from ordinary activities before tax of INR 3,433.7 million and net profit of INR 2,634.5 million or INR 45.88 per diluted share (not annualized) compared to gross sales of INR 25,196.7 million, profit from operations before other income, finance costs and exceptional items of INR 3,602.8 million, profit from ordinary activities before tax of INR 3,038.9 million and net profit of INR 2,155.4 million or INR 37.54 per diluted share (not annualized) reported in the same period last year.
SRF Limited is a chemical-based multi-business company engaged in the manufacturing of industrial and specialty intermediates. The Company's segments include Technical Textiles Business (TTB), Chemicals Business (CB), Packaging Film Business (PFB) and Others. The TTB segment's business includes nylon tire cord fabric, belting fabric, polyester tire cord fabric and industrial yarns and its research and development. The CB segment's business includes refrigerant gases, industrial chemicals, specialty chemicals, fluorochemicals and allied products and its research and development. The PFB segment's business includes polyester films and polypropylene films. The others segment includes coated fabric, laminated fabric and other ancillary activities. The Company has around 12 manufacturing plants in India and one each in Thailand, South Africa and Hungary. The Company exports to over 90 countries. It serves various industries, such as automotive, pharmaceuticals, manufacturing and chemicals.