Siyaram Silk Mills reports 11.3% YoY profit growth
28 October 2024, Mumbai
Siyaram Silk Mills Ltd announced an 11.3 per cent year-on-year increase in net profit, reaching Rs 68.2 crore for Q2 FY2024, up from Rs 61.3 crore in the same quarter last year. The company's revenue rose 3.7 per cent to Rs 608 crore, compared to Rs 586 crore in the previous fiscal year.
Operating profit (EBITDA) increased by 1.1 per cent to Rs 89 crore, with an EBITDA margin of 14.6 per cent, slightly down from 15 per cent last year.
Additionally, the company declared an interim dividend of Rs 4 per equity share, with the record date set for November 6, 2024. Siyaram Silk Mills has also approved a Scheme of Arrangement for the issuance of bonus preference shares to existing equity shareholders.
