Siyaram Silk Mills Q3 net profit declines 47 percent to Rs 8 crore

By

Maverick Martins

Published
Jan 30, 2020

Siyaram Silk Mills Limited saw its net profit decline 47 percent to Rs 8 crore ($1.2 million) for the third quarter ended December 2019, as against Rs 14 crore it had reported in the year-ago period.
 

The company’s revenue for the October-December quarter dropped 6 percent to Rs 418 crore, as against Rs 447 crore it had reported in the previous quarter ended December 2018.
 
Siyaram also reported net sales of Rs1,250 crore during the 9 months period ended December 31, 2019, as compared to Rs1,249 crore it reported in the last financial year. The company posted a net profit of Rs 46 crore for the 9 months period, as against Rs 53 crore it posted last fiscal year.

Siyaram Silk Mills Limited is one of India’s leading fashion companies with a strong presence in the menswear market, especially in the suiting and shirting segment.
 
Apart from its private-label brands, Siyaram also owns the rights to manufacture and market the Italian fashion brand, Cadini, in the Indian market.