South-based KPR Mills, manufacturer of cotton yarns, has reported net sales of Rs 66843 lakh during the quarter ended September 30, 2013. This is 76.23% higher than sales of Rs 37929 lakh in the corresponding quarter of the previous fiscal. During the first quarter of the current financial year, net sales were to the tune of Rs 47380 lakh.
However, despite the higher net sales, the company has registered lower profits during the quarter. At Rs 3467 lakh, net profit is 8.45% lower than in the Q2 of 2012-13. However, compared to the previous quarter, net profits are up 22.38%. The company’s net sales from the textiles division amounted to Rs 50,453 lakh, was 33.02% higher than in the corresponding quarter, and 14.68% higher than the previous quarter.
Net sales during the first half of the current fiscal, at Rs 94,449 lakh is 35.20% higher than in corresponding half year. Profit before tax, from the textile division, for the second quarter is Rs 8362 lakh, 15.91% higher than in the corresponding quarter, and 30.13% higher than in the previous quarter. During the first half of the current fiscal, PBT from textiles was to the tune of Rs 14788 lakh, a growth of 23% over the corresponding period of the previous year.