Indo Rama Synthetics (India) Ltd has received a tax demand notice of ₹36.87 crore from tax authorities. The company has not yet disclosed the specific reasons for the tax notice or the period it covers. This development could potentially impact the company's financial position. The company's response to the demand notice is awaited, and further clarification is expected in the coming days.
Indo Rama Synthetics (India) Limited has reported a significant financial turnaround in Q4 FY23. The company posted a consolidated net profit of ₹511.00 crore, compared to a loss of ₹404.80 crore in Q4 FY22. Revenue increased by 32.52% year-over-year to ₹1,198.00 crore from ₹904.00 crore. The Q4 profit also surpassed the previous quarter's profit of ₹136.00 crore, indicating strong sequential growth.
13May 25
Indo Rama Synthetics Reports Remarkable Q4 Turnaround with ₹13.6 Crore Net Profit
Indo Rama Synthetics (India) Limited has reported a significant financial turnaround in Q4 FY2023-24. The company posted a consolidated net profit of ₹13.6 crore, compared to a loss in the same period last year. Revenue increased by 23.69% to ₹1,168.1 crore. EBITDA surged by 225.86% to ₹65.7 crore, with the EBITDA margin expanding to 5.62%. The Operating Profit Margin improved to 5.43% from -6.01% year-over-year, indicating enhanced operational efficiency. These results demonstrate the company's strong recovery and improved financial health in the textile industry.