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Sutlej Textiles & Industries announced Q2FY23 results:
- H1FY23:
- Total Income at Rs 1,679 crore, up 21%
- EBITDA at Rs 232 crore, up 27%
- EBITDA margin at 13.80%
- PAT at Rs. 77 crore, up 24%
Commenting on the results, Mr. C. S. Nopany, Executive Chairman, Sutlej Textiles and Industries Limited said: “The global economic turmoil coupled with inflationary pressures has resulted in a challenging operating environment for most sectors, including the textiles. We are now witnessing key commodity prices decline from their extraordinary highs, resulting in a slowing down of demand in almost all geographies. As prices continue on a downward trajectory finding a new equilibrium, demand and offtake remained subdued in Q2. At Sutlej, while the quarterly performance has been under some pressure, we have been quite resilient and have operated at optimum capacity due to our diversified portfolio, multi-market operations, and strong relationships with our customers and we remain cognizant of the overall market dynamics going forward.”
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