Indo Rama Synthetics (India) Ltd. (IRSL), India’s largest dedicated polyester manufacturing company, today announced its third quarter – Q3 - results for the financial year 2007-08, in the capital today.

EBIDTA for the quarter zooms by 98% to Rs.66.33 crores, compared to Rs.33.42 crores, registered during the same period last year.For the nine months ended 31st December, 2007 , the EBIDTA has jumped by 75% to Rs.195.22 crores compared to Rs 111.76 crores for the same period last year.

The company's PAT during the quarter recorded a growth of137% at Rs.7.21 Crores compared to Rs. 3.04 Cr. recorded during the same period last year and for the nine months ended 31st December, 2007, PAT recorded a growth of 52% at Rs.21.28 crores compared to Rs 13.95 crores for the same period last year.

During the quarter the company completed the merger of Indo Rama Petrochemicals with it self. The erstwhile Indo Rama Petrochemicals runs a 30 MW coal fired power plant and the company has benefited from availability of cheaper power for its operations and sale of surplus power to the Maharashtra grid. Power business has now become a separate revenue segment of the company.

The company’s margins and profitability during the quarter could have been multifold but for the soaring MEG prices. MEG prices have since reduced considerably. Availability and prices of PTA have remained stable during this quarter. As MEG availability improves we expect improved performances in the times ahead.

Mr. O P Lohia, Chairman & Managing Director, Indo Rama Synthetics (India) Ltd. said, “The opportunities for the polyester industry continue to be manifold. Despite a higher output, the cotton prices are soaring day by day which is likely to result in an increase in the demand of Polyester. Softening of MEG prices and increased availability of PTA & MEG is likely to have a positive impact on our bottom line, going forward.

We are also excited by the opportunity of entering the power sector that the merger of Indo Rama Petrochemicals provides to us. We are committed to grow this segment of our business exponentially in the future.”

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About Indo Rama Synthetics (India) Ltd.

Indo Rama Synthetics (India) Limited is the country’s largest dedicated polyester manufacturer with an Integrated Manufacturing Complex at Butibori, near Nagpur in Maharashtra producing around 6,00,000 tonnes per annum of Polyester Staple Fibres, Filament Yarns, Textured Yarns and Textile grade Chips.

For Further Details Please Contact:
R Gurumoorthy Sunaina Jairath
Indo Rama Synthetics
98734 11360 9811645243

Sunaina - Senior Manager
Tel No. - 011 - 41327970 ext 21
Fax No. - 011 - 26840650, Mobile - 9811645243
email - sunaina@image-publicrelations.com