Date:07/11/2006 URL: http://www.thehindubusinessline.com/2006/11/07/stories/2006110701420200.htm

Back Sybly Ind turnover, net profit up in H1

Our Bureau

Kolkata , Nov. 5

The Uttar Pradesh-based thread and home furnishings manufacturer and exporter Sybly Industries has posted a turnover of Rs 35 crore in the first half of 2006-07, up over 40 per cent against the first half of the previous fiscal. It recorded a net profit of Rs 64 lakh during the first six months ended September 30.

According to Mr Mahesh Mittal, CEO, Sybly Industries, the company's experiment in branding its products — thread and home furnishings — has helped it post a higher sales and profits. "Our ventures in Turkey and the US have also served us well," he told Business Line.

Mr Mittal indicated that Sybly was also looking out for acquisitions abroad for faster growth. "We intend to raise Rs 25 crore to fund our growth plans," he added.

The company expects, according to him, to clock Rs 85 crore in sales this financial year to March 31, 2007, aided by capacity expansions.