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Century Textiles reports net loss in Q2
Century Textiles and Industries has suffered a net loss of Rs 5.05 crore for the second quarter ended September 2003 as against net profit of Rs 9.98 crore in the second quarter of 2002-03. Net sales for the second quarter grew marginally at Rs 519.96 crore compared to Rs 517.07 crore in July-September 2002, the company said in a release here. The net profit and sales for the first half ended September stood at Rs 23.55 crore (Rs 13.72 crore in H1 of 2002-03) and Rs 1,066.55 crore (Rs 1,059.07 crore), the release added.

Bombay Dyeing Q2 up at Rs 10.71 cr; to revamp textile business
Bombay Dyeing has posted a higher net profit of Rs 10.71 crore for the second quarter ended September as against Rs 2.14 crore in the same period last fiscal even as the company board decided to restructure its textile business by consolidating operations at one location in Mumbai. The total income for the reporting quarter rose to Rs 247.43 crore as against Rs 227.08 crore in July-September 2002, the company informed the stock exchange, Mumbai (BSE). The board of directors has approved a proposal to revamp textile business, modernise and rationalise the manufacturing activities through consolidation of operations at one location in Mumbai, it said.

Raymond Q2 net rises 14.76 per cent at Rs 39.49 crore
Textile major Raymond has posted a 14.76 per cent rise in net profit at Rs 39.49 crore in second quarter ended September 30, 2003, compared to Rs 34.41 crore recorded during the same period of the previous year. The company’s total income (net of excise) rose to Rs 316.25 crore during the quarter from Rs 284.11 crore posted during the corresponding period of the previous year, a Raymond press release said here recently. For the six-month period ended September 30, 2003, Raymond posted a higher net profit of Rs 60.41 crore on income from operations of Rs 508.42 crore, compared to Rs 38.72 crore on income from operations at Rs 462.29 crore recorded during the period a year ago, it said. Raymond’s textile division recorded a 6.26 per cent rise in revenues at Rs 246.77 crore in second quarter, compared to Rs 232.23 crore registered during the same period of the previous fiscal, and sales volume rose to 7.48 million metres from 7.23 million metres, it said. For the six-month period the division posted a 6.29 per cent growth at Rs 362.69 crore (Rs 341.22 crore), on a rise in sales volume at 11.5 million metres (11 million metres). Raymond’s denim division also recorded a growth in revenue by 39.36 per cent at Rs 45.60 crore (Rs 32.72 crore) during the second quarter and by 46 per cent at Rs 87.85 crore (Rs 60.26 crore) during the six-month period, it said. The division posted a rise in volumes by 38.46 per cent at 4.14 million metres (2.99 million metres) for the second quarter and by 47.5 per cent at 8.10 million metres (5.49 million metres) for the first half.

Welspun Q2 net up at Rs 7.63 crore
Welspun India has posted a higher net profit of Rs 7.63 crore for the second quarter ended September 30, 2003 as against Rs 4.50 crore in the same period last year. The net sales for the reporting quarter rose to Rs 85.07 crore as against Rs 63.77 crore in July-September 2002, the company said in a release here. The vice-chairman Mr B K Goenka said despite the recessionary conditions in the industry, the performance in the quarter has been satisfactory. The company has introduced its home textile products under the brand ‘Spaces’ in the domestic market, he said. The net profit and sales for six months ended September stood at Rs 13.59 crore (Rs 8.23 crore) and Rs 158.64 crore (Rs 119.53 crore) respectively, the release added.

Grasim Q2 net up 57.75% at Rs 202.98 crore
Grasim Industries has posted a 57.75 per cent rise in net profit at Rs 202.98 crore for the second quarter ended September 30, 2003, compared to Rs 128.67 crore in same period previous fiscal. Total income in the period under review has increased to Rs 1,243.77 crore as against Rs 1,149.46 crore in Q2 of last year, the company informed the stock exchange, Mumbai.

Arvind Mills posts lower net profit at Rs 24.31 in Q2
Arvind Mills has posted a lower net profit of Rs 24.31 crore in second quarter ended September 30, 2003, even as credit rating agency Crisil has upgraded the textile major’s Rs 25.36 crore non-convertible debenture (ncd) programme to ‘bbb-/positive’ from ‘bb/positive’. The company had recorded a net profit of Rs 29.07 crore in the second quarter of the previous fiscal, Arvind Mills said in release here recently. The Ahmedabad-based company’s total income for the reporting quarter rose to Rs 371.11 crore during the quarter under review, from Rs 356.54 crore posted in the September quarter of the previous financial year, it said. Commenting on the second quarter results Arvind Mills’ chief financial officer and director, Mr Jayesh Shah said the appreciation of rupee against US dollar, high cotton prices and decline in denim volumes and realisations impacted the company’s second quarter results. However, shirting fabrics exhibited improved performance, while interest and finance costs declined, headded. For the six-month period ended September 30, Arvind Mills’ net profit increased to Rs 52.39 crore on a total revenue of Rs 743.08 crore, as against Rs 54.66 crore on a total revenue of Rs 711.8 crore, it said.
Under its first phase of expansion plans, a 24 lakh per annum readymade shirts plant and 21 million jeans plant at
Mauritius have been completed and production has commenced on a trial basis, it said, adding, the plants were set up through a subsidiary.

Century Enka Q2 net up at Rs 20.41 cr
Century Enka has posted a higher net profit of Rs 20.41 crore for the second quarter ended September as against Rs 15.11 crore in the same period last fiscal. The total income, net of excise, for the reporting quarter rose to Rs 218.6 crore as against Rs 185.9 crore in July-September 2002, the company informed the stock exchange, Mumbai (BSE).