Textile companies witnessed little plunge in their net profits or marginal rise for the second quarter that ended on September 30, 2014. Raymond Ltd. posted a 26 per cent decline in its net profit at Rs. 68 crore for the second quarter of fiscal 2014-15 as compared to Rs. 92 crore for the corresponding period last year. Textiles segment of Century Textiles Industries Ltd saw its net profit fall by 24.71 per cent at Rs. 32.90 crore. Ashima Ltd. also registered net loss of Rs. 3.02 crore for quarter that ended on September 30, 2013 in previous fiscal worsening to Rs. 11.86 crore for the second quarter of current FY. Alok Industries, the company posted a net profit of Rs. 45.36 crore for the quarter ended September 30, 2014 whereas the same was at Rs. 96.98 crore for the quarter ended on September 30, 2013. Fluctuating costs, tight competition, high inflation, high interest rates, weakened rupee impacted and demand cycle are some of the reasons for this condition. On the other hand, Arvind and Kewal Kiran Clothing Ltd. (KKCL) achieved marginal growth rates of 4.13 per cent and 3.10 per cent respectively.
