The Hindu Business Line : Zodiac Clothing Q4 net zooms

MUMBAI: Zodiac Clothing Co Ltd's (ZCCL) net profit for the fourth quarter ended March 31, 2004, rose 332 per cent to Rs 1.99 crore from Rs 46 lakh in the corresponding period last year.

The company's turnover grew 106 per cent to Rs 41.25 crore (Rs 19.98 crore).

Its net profit for the year ended March 31, 2004, grew 183.98 per cent to Rs 9.03 crore compared to Rs 3.18 crore for the year ended March 31, 2003.

Net sales for the period grew 32 per cent to Rs 162.14 crore over the previous year.

The company has informed the Bombay Stock Exchange that at its meeting held on June 4, the board had recommended a dividend of Rs 7 per equity share, subject to the approval of the members at the ensuing annual general meeting.

Its suit and trouser plant is slated to start operations this year.

The company has also increased its manufacturing capacity by one million shirts annually.

Mr S.Y. Noorani, Managing Director, said, in a press release, "The successful merger with Mayfair Ltd has resulted in ZCCL bringing greater synergies to its operations.

The merger and growth in export order booking has resulted in phenomenal growth for ZCCL."