02 February 2022, Mumbai:
Q3 profit of textiles major Siyaram Silk Mills surged 150 per cent to Rs 69 crore as against a net profit of Rs 28 crore a year- ago.
The company’s revenue for the quarter rose 48 per cent to Rs 563 crore, as against Rs 383 crore it reported in the corresponding period of the previous fiscal. Total income reached Rs 1,299 crore while net profit totaled Rs 134 crore during the nine-month period.
The brand also launched a range of bamboo fabrics with Bollywood actor Ranveer Singh during Q3. It expects these new launches coupled with the easing of Covid restrictions across India to sustain the current growth momentum.
Having a strong presence in the menswear category, Siyaram’s is mainly operational in the suiting and shirting segment.
Apart from its private-label brands, the company also owns the rights to manufacture and market the Italian fashion brand, Cadini, in the Indian market.
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