India: Dhanlaxmi Fabrics posts lower profits in Q1 FY `13-14

Company Performance

India: Dhanlaxmi Fabrics posts lower profits in Q1 FY `13-14

Mumbai-based Dhanlaxmi Fabrics Ltd, during the first quarter of the current financial year has posted a net profit of Rs 3.34 million, 20% lower than in the previous quarter, and almost 30% lower than in the corresponding quarter of the previous financial year.

Net profit during 2012-13 was Rs 13.67 million.

The lower profits are largely due to the performance of the company’s wind power division.

Net sales of the textile division during April-June 2013 were to the tune of Rs 140.32 million, the same as in the previous quarter.

Dhanlaxmi Fabrics has its yarn and fabric processing unit in Dombivli, about 40 kms from Mumbai, and its weaving unit is located in Ichalkaranji, in Maharashtra.