INDIA: Indo Rama Synthetics To Spin Off Units
Polyester staple fibre manufacturer Indo Rama Synthetics has posted a huge 226 per cent jump in quarterly net profit and announced plans to spin off its spun yarn and polyester businesses into separate units. The company said the move would cut costs and boost growth. It added its net profit for the April to June period surged 226 per cent from the year-ago quarter on the back higher sales and demand for polyester products.
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