Financial Daily from THE HINDU group of publications
Friday, Jan 30, 2004
Financial Daily from THE HINDU group of publications Friday, Jan 30, 2004 |
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Corporate
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New Projects Liberty setting up new facility Our Bureau
Mumbai , Jan. 29 LIBERTY Shoes Ltd is setting up a new manufacturing facility near Dehradun as part of its programme to augment capacity to cash in on the growing footwear market. Mr Adarsh Gupta, Executive Director of the company, said the new facility, which was being set up at a cost of Rs 10 crore, would be ready by the end of the current fiscal. The facility will have an initial capacity to produce 4,000 pairs per day. The company, which at present has a production capacity of 50,000 pairs per day, has notched up a turnover of Rs 57 crore in the third quarter of the current fiscal, as against Rs 17.25 crore during the corresponding period of last fiscal. The net profit of the company touched the Rs 2.93 crore mark during the quarter, as against Rs 1.31 crore in the corresponding period of last fiscal, registering a 123 per cent increase. During the nine-month period ending December 2003, the company registered sales of Rs 141.76 crore, as against Rs 52.88 crore in the last year. The company has declared a special interim dividend of 25 per cent.
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