Eastern Silk Industries Ltd (ESIL), a leading exporter of silk fabrics, has reported 41 per cent jump in its net profit for the quarter ended December 31,2005 to Rs 109.2 Million compared to Rs 77.2 Million in the corresponding quarter last year. Net sales during the period under review increased by 30 per cent to Rs 1188.7 million from Rs 912.0 million in the corresponding quarter last year. The results of the third quarter and that of nine months to December 31, 2005 and the previous year ended March 31, 2005 have been consolidated to reflect the amalgamation of Sstella Silks and Eastern Jingying with ESIL. The cumulative net profit for the nine months to December 31,2005 has shown a remarkable growth of 60 per cent at Rs 326.8 million while sales rose by 24 per cent during the same period to Rs
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| 3075.4 million. Sales and net profit for the full year ended March 31, 2005 were Rs 3379.2 million and Rs 255.2 million respectively. ESI today imports nearly 70 per cent of its annual yarn requirement of 800 tons per annum from China while the balance comes from its own spinning mill. Part of its fabric requirement is met by Sstella Silk while Eastern Jingying supplies silk yarn. Elaborating on the company's growth potential, Mr S S Shah, chairman of ESI Ltd said, "We are gradually shifting from handloom fabrics to machine-made fabrics. For further value addition, we are setting up state-of-the-art facilities at Bommasundra for manufacture of made-ups and fashion fabrics for the highly discerning buyers in the USA and Europe. Full benefits of our expansion plans will start accruing from 2006-07. Our target is to achieve Rs 5000 million turnover by March 2007." 
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