For the quarter ended June 30, 2016, Indo Rama Synthetics’ net revenues stood at Rs.647.14 crores as against Rs.642.48 crores in the corresponding quarter of the previous year.
Operational EBIDTA for the quarter stood at Rs 3.95 crores as compared to Rs 32.54 crores for the corresponding quarter in the previous year. The company has reported a loss of Rs 16.56 crores during the quarter as compared to a net profit of Rs.5.86 crores in the corresponding quarter of the previous year.
Sales volume for the quarter increased to 84,470 tons as compared to 79,088 tons in the corresponding period of the last financial year, reflecting an increase of 6.81 per cent on a quarter on quarter basis.
Indo Rama is India’s largest dedicated polyester manufacturer. Indo Rama manufactures a multitude of industrial products including polyethylene, polypropylene, spun yarns, fabrics, medical gloves, and fertilizers. It is involved in spinning, weaving and finishing of textiles.
The company was incorporated in 1975. Indo Rama is the largest producer of phosphoric acid and phosphate fertilizers in sub saharan Africa. The company exports to premium customers in North America, Europe, South America, Asia, Australia and the Middle East. The company has been listed on the Indonesian stock exchange since 1990.