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Liberty Shoes reports 144 pc rise in Q1 net, to issue 1:1 bonus

Our Bureau

New Delhi , July 18

THE Karnal-based footwear major Liberty Shoes today reported a 144 per cent jump in net profit for the quarter ended June 30, 2005.

The company has decided to issue bonus shares in the ratio of 1:1.

The company, which has also forayed into organised retailing through a subsidiary, said turnover for the April-June 2005 period stood at Rs 52.64, a growth of 10.54 per cent over Rs 47.62 recorded in the same period last year. The company said the issue of bonus shares would increase the company's share capital from Rs 5.07 crore to Rs 10.14 crore.

"The issuance of bonus shares are not only a well-deserved reward to the existing shareholders for their continuous support and faith in the company but also a proof of our company's commitment to creating sound shareholder values in the Indian capital market," the Liberty Shoes Executive Director, Mr Adarsh Gupta, said.

The price-to-earnings ratio for the company's stock during the financial year 2004-05 was 7.9 and its earnings-per share 19.3. The company's share opened at Rs 237 at the Bombay Stock Exchange today and closed the day higher at Rs 243.20.

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