Financial Daily from THE HINDU group of publications
Saturday, Jan 29, 2005
Financial Daily from THE HINDU group of publications Saturday, Jan 29, 2005 |
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Corporate Results
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Watches & Accessories Timex Watches posts profit Our Bureau
NEW DELHI: Timex Watches Ltd, has announced cash profit of Rs 46.24 lakh for the quarter ending December 31, 2004, which marks an improvement of over Rs 3 crore compared to the previous corresponding quarter. The company has been able to reduce its net loss from Rs 4.1 crore in Q3 last fiscal to about Rs 38.87 lakh in the third quarter of the current fiscal. Timex has also announced a topline growth of 33.01 per cent for the quarter ending December 31, 2004 over the corresponding quarter. According to Mr Kapil Kapoor, Managing Director, Timex Watches Ltd., "The profits posted in the quarter ending December 31, 2004 proves that the company is on a solid turnaround track. The profits in the last quarter of 2004 (October - December `04) can be largely attributed to the success of Timex's Festive Offer, due to which the retail share of the company has grown by over 5 per cent."
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