Published
Feb 1, 2022
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Siyaram Silk Mills posts Q3 net profit of Rs 69 crore

Published
Feb 1, 2022

Textiles major Siyaram Silk Mills witnessed a 150 percent rise in its net profit to Rs 69 crore ($9.3 million) for the third quarter ended December 2021, as against a net profit of Rs 28 crore it reported in the year- ago period.
 

Siyaram Silk Mills posts Q3 net profit of Rs 69 crore


The company’s revenue for the quarter rose by 48 percent to Rs 563 crore, as against Rs 383 crore it reported in the corresponding period of the previous fiscal year.
 
For the nine-month period, the company reported total income of Rs1299 crore while its net profit was Rs 134 crore.

During the quarter, Siyaram also launched a range of bamboo fabrics with Bollywood actor Ranveer Singh. The company expects the growth momentum to continue over the next few quarters on the back of new launches coupled with the easing of Covid restrictions across India.
 
Siyaram's has a strong presence in the menswear market, especially in the suiting and shirting segment. Apart from its private-label brands, Siyaram's also owns the rights to manufacture and market the Italian fashion brand, Cadini, in the Indian market.

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