Markets
BSE See NSE See 36,347.08
77.01 (0.21%)

Press Release

SVP Global Ventures Post PAT of Rs. 16.80 Crore for Q2FY18 as Against Rs. 3.10 Crore for Q2FY17

SVP Global Ventures Post PAT of Rs. 16.80 Crore for Q2FY18 as Against Rs. 3.10 Crore for Q2FY17

MUMBAI, November 15, 2017 /PRNewswire/ --

Result Highlights 

For the Quarter ended September 30, 2017 (Q2FY18): 

  • Total Income stood at Rs. 419.48 crore for Q2FY18, as compared to Rs. 360.51 crore in Q2FY17 increased by 16.35%
  • EBITDA at Rs. 62.84 crore for Q2FY18 as compared to Rs. 19.47 crore posted in Q2FY17 increased by 221%
  • Net Profit stood at Rs. 16.80 crore for Q2FY18 as compared to in Q2FY17 Rs. 3.10 crore increased by 442%

For the Half Year ended September 30, 2017 (H1FY18): 

  • Total Income stood at Rs. 1027.72 crore for H1FY18, as compared to Rs. 615.69 crore in H1FY17 increased by 66.90%
  • EBIDTA for H1FY18 stood at Rs. 130.46 crore viz-a-viz Rs. 38.33 crore in H1FY17 increased by 240%

PAT of Rs. 35.44 crore for H1FY18 as compared to in Q2FY17 Rs. 4.89 crore increased by 624%

SVP Global Ventures Limited (SVP), a diversified yarn manufacturing company, has declared its financial results for the second quarter and half year ended September 30, 2017.

The company reported Net Profit of Rs. 16.80 crore for Q2FY18, as compared to Rs. 3.10 crore in the corresponding quarter of last fiscal.

Total Income stood at Rs. 419.48 crore for Q2FY18, as compared to Rs. 360.51 crore in Q2FY17. SVP's Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q2FY18 stood at Rs. 62.84 crore, as compared to Rs. 19.47 crore in Q2FY17. The company's EBITDA margin and PAT Q2FY18 stood at Rs. 16.80 crore, as compared to Rs. 3.10 crore in Q2FY17.

For the half year ended September 30, 2017, SVP recorded a net profit of Rs. 35.44 crore as compared to Rs. 4.89 crore in the year ago period.

Total Income stood at Rs. 1027.72 crore for H1FY18, as compared to Rs. 615.69 crore in H1FY17. SVP's EBITDA in H1FY18 stood at Rs. 130.46 crore, as compared to Rs. 38.33 crore in H1FY17.

SVP's order book as on September 30, 2017 stood at more than Rs. 200 Crore.

Commenting on the financial performance of the company, Mr. Chirag Pittie, Managing Director, SVP Global Ventures Limited, said, "We are delighted to post a strong set of numbers for Q2 and H1 FY18. The result for the first half of the fiscal reflects the full performance of the company's new manufacturing facility at Rajasthan. Going forward, we expect to increase our margins further as cotton prices have dropped substantially in the new season."

About SVP Global Ventures Limited (http://www.pittie.com/; BSE: 505590)

SVP Global Ventures Ltd (SVP) is a diversified yarn manufacturing company that has carved a niche for itself as one of the prominent members in compact yarn business. SVP has a wide product portfolio ranging from cotton, blended yarn, open end yarn to superior yarns such as compact yarns. With 200+ years of experience in the textile business, the company, under the professional and expert leadership of Mr. Chirag Pittie, houses a highly skilled workforce and management team, which has a strong focus on automation and technology. By utilizing the best-in-line machinery sourced from global leaders, SVP opts for high level productivity and output.

In addition to being a trader and traditional yarn manufacturer, SVP is making a distinctive identity as a leading player in the value added compact yarn business. The company has a wide distribution network spread across major textile marketing centers in India including exports to countries like China, Bangladesh, Pakistan, Vietnam, Portugal and Turkey. Having set up an additional facility of 150,000 spindles and 2,400 rotors, SVP has professional expertise in sourcing superior quality raw materials that has led to higher quality yarns. The company owns three manufacturing units in Tamil Nadu with a total capacity of 98,000 spindles and rotors, which manufacture diversified quality of yarn with a count of 6 to 70.

Media Contact:
Shahab Shaikh
shahab@conceptpr.com
+91-93208-97525
Concept Public Relations Ltd


 

NewswireList

 
News 18, one of India's top breaking news websites, has awarded HUAWEI P20 Pro with the honorary title of 'Best Camera Phone of the Year,' at the coveted Tech and Auto Awards. The entry was shortlisted by a jury that included veterans from tech indus...
- New Terminal constructed in record time of 11 months; enhances capacity of Prayagraj Airport to handle 300 passengers at a time during peak hours and inaugurated in time to influx the pilgrims for Kumbh mela Built for Airport Authority of India, TA...

27th Mega Eye Camp Held at Dera Sacha Sauda

SIRSA, India, December 18, 2018
Baba Ram Rahim's Followers Provide Free Eye Treatment to More Than 6500 PatientsSpanning across four days, The 'Yaad-e-Murshid, Mega Eye Camp' was held from 12th Dec - 15th Dec with more than 6596 treatments and 117 eye surgeries at Dera Sacha Sauda,...
Wedevelopment, an organization helping societies to self-redevelop, reached a major milestone by reaching the construction phase of two self-redevelopment projects, namely Jayakunj and Harmony in the prime location of Borivali, on December 16th, 2018...
A unique initiative to promote entrepreneurial and innovative ideas aimed atsolving national challenges using data and innovation   Western Digital, a leading data infrastructure provider, today announced that it hosted the Data Innovation Bazaar in ...
GIIS now becomes a part of select 400 Cambridge schools with this affiliation nationwide and a part of 10,000 Cambridge schools in 160 countries across the globe Global Indian International School (GIIS), Chinchwad recently recognised as 'Future 50 S...
Datamatics Global Services Ltd. (DGSL), a global IT & BPM company, announced today that it has been recognized as the Best Cognitive Technology Provider of the Year 2018 at IT Innovation & Excellence Awards by Computer Society of India, Mumbai.Datama...
12345678910...