“Increase in the overhead expenses led to fall in margins. We were not able to pass on the hike to customers in this quarter on back of challenging environment,†told Surendra S Shetty, CFO at Siyaram Silk Mills in an exclusive interview to moneycontrol.com
In an interview with CNBC-TV18, Sanjay Lalbhai, CMD, Arvind said the company lose Rs 100 crore on sales and Rs 35 crore of profit due to the Naroda plant shutdown. The sale of branded garments were weak in may but, performance in July seems to be encouraging so far, he added.