T T has been trying for exiting from its Spinning business. The Company has been successful in disposing off Company's Spinning machinery earlier located at Gajroula (U.P.) and Avinashi (Tirupur, District: Tamil Nadu).

However Company's ultra modernGreen Spinning plant located in Cotton growing belt and at porttown of Pipavav, Gujarat is most ideally located and has anunusually large freight savings in incoming Raw Cotton and Exportshipments. The company is looking for a suitable outright buyer forits spinning facility. The company has already extended invitation topossible buyers and is about to start dealings.

The company is now concentrating and focusing on itsFabric, Garments — Innerwear, Outerwear and its Retail business. Itis also testing its strength in new fields such as bulktransportation, packaged foods and building up an import line aswell. It is only because of such new initiatives that company hasbeen able to overcome and reduce otherwise heavy losses.

In new future as new initiatives bloom, Company would have a right turn around very soon.

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Net profit of T T declined 55.29% to Rs 0.38 crore in the quarter ended June 2019 as against Rs 0.85 crore during the previous quarter ended June 2018. Sales declined 38.00% to Rs 106.87 crore in the quarter ended June 2019 as against Rs 172.38 crore during the previous quarter ended June 2018.

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TT will hold a meeting of the Board of Directors of the Company on 7 August 2019.

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TT announced that the Annual General Meeting (AGM) of the company will be held on 25 September 2019.

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