Business

Banswara Syntex posts lower net profit of Rs 166.70 lakh

Banswara Syntex has posted a net profit of Rs 166.70 lakh in Q3 2014. This is 43% lower than in the previous quarter. During Q3 2013, the company’s net profit was at Rs 712.45 lakh. The company’s net sales during Q3 2014 were to the tune of Rs 28909.94 lakh, 6.42% lower than in the previous quarter. During Q3 2013, the company’s net sales amounted to Rs 29278.61 lakh.

The dull market conditions led to high inventory levels for the company. Inventories were to the tune of Rs 1238.23 lakh during Q3 2014. Inventories amounted for Rs 1649.45 lakh during the previous quarter, and Rs 986.24 lakh during Q3 2013.