Sutlej Textiles and Industries said onTuesday its net profit surged nearly 17-fold to INR23.53 crore (INR235.3 million, USD5.11 million) for the third quarter ending 31 December, over the same period in the previous fiscal year.
"Strong GDP [gross domestic product] growth has provided an impressive boost to the rural economy and consumption, and it is expected that the trend may continue. It is hoped that it will continue to drive the Indian textile industry forward," says Sutlej Textiles and Industries chairman CS Nopany.
(Source: Business Standard)