Textile firm, Digjam has posted a net loss of Rs 5.19 crore for the quarter ended December 31, 2010 due to slowdown in demand and high import costs. However, the company had posted net profit of Rs 6 lakh during the corresponding quarter of last financial year.
The company’s net sales for the quarter ended December 31, 2011 also dipped to Rs 33.03 crore as against Rs 35.37 crore in the same quarter of 2010-11 fiscal.
Slowdown in demand for fabrics in the domestic and international markets and sharp rise in imported wool cost due to firming up of Australian Dollar during the period, as compared to the corresponding period last year, severely impacted the performance.
