Mumbai, Nov 4: Himatsingka Seide has posted a 37 per cent increase in net profit in the first half of the current fiscal to Rs 18.07 crore, while its turnover reflected a 43 per cent growth to Rs 54.52 crore.The Bangalore-based company has also declared an interim dividend of 25 per cent on post-bonus equity.
Announcing the results at a press conference here on Thursday, managing director Dinesh Himatsingka said the company's blended silk yarn manufacturing division had improved its yarn production capacity to 63 metric tonnes (mt) in the first half of 1999-2000, compared to 55mt produced in the twelve-year period ended March 31, 1999.
The fabrics division consumed 16 per cent of the yarn production, while the remaining was marketed overseas including Italy, Korea and Japan, he said adding that he was also looking at expanding the customers base by tapping markets in Turkey, Taiwan and Hong Kong.
By 2001-02, he expects 40 per cent of the blended yarns capacity to be consumed internally.
Operating profit improved 32 per cent to Rs 23.40 crore from Rs 17.68 crore in the corresponding period last year, while operating margins stood at Rs 42.9 per cent.
Revenues from silk fabrics exports increased to Rs 45.70 crore, he added.
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