Ambika Cotton Mills (AMBIKCO) Q4 99/00 earnings summary

Executive summary

• FY00 total income declined 4.46% YoY to Rs. 4,138.15 lakh, while gross profit rose 25.65% to Rs. 555.50 lakh.

• Export turnover increased 22.34% YoY to Rs. 3,425.30 lakh and accounted for 84.39% of total turnover.

Financial highlights

• Sales were Rs. 4,058.98 lakh versus Rs. 4,292.37 lakh in FY99; other income rose to Rs. 79.17 lakh from Rs. 39.16 lakh.

• Profit before tax was Rs. 426.97 lakh versus Rs. 327.44 lakh; profit after tax was Rs. 401.97 lakh versus Rs. 310.44 lakh.

• Reported profit included Rs. 0.82 lakh of prior-period income and Rs. 2.15 lakh of prior-period income tax credited in the profit-and-loss reconciliation.

Outlook and guidance

• The 12,096-spindle expansion began commercial production on 5 March 2000; full operation was expected during FY01, supporting further growth.

• Efforts to maintain and improve quality standards were cited as priorities for better performance in the current financial year.