MUMBAI: Ahmedabad based SinTex Industries , manufacturer of textile and yarns Wednesday defaulted about Rs 90 crore repayments on bonds, the company said in a release filed with the stock exchange. Axis Bank helped the company sell bonds five years ago in June, 2014. Amongst mutual funds one fund house Invesco Mutual Fund has a 5.67% holding in Invesco India Credit Risk Fund as of May 2019, worth Rs 15 crore says data from Value Research. An email to the fund house, did not get any response at the time of going to press.Standalone profitability of the company declined sharply from Rs 550 crore in March 2016 to Rs 135 crore in March 2018. In the quarter ended March 2019, it reported a loss of Rs 85.63 crore on a turnover of Rs 661 crore.

Source: Economic Times June 12, 2019 16:18 UTC