The Hindu Business Line : Vishal Exports Q2 net up 68%; issues bonus shares

VISHAL Exports Overseas Ltd (VEOL), a four-star export house, has reported a 67.89 per cent rise in net profit to Rs 14.47 crore for the second quarter ended September 30, 2005 compared to Rs 8.62 crore in the corresponding quarter last year.

Net sales increased by 83.39 per cent to Rs 878.10 crore compared to Rs 478.81 crore, a company release said.

Revenue from power generation stood at Rs 4.25 crore against Rs 2.05 crore in the corresponding quarter last year.

The company has issued bonus shares at the ratio of two shares for every share held. The company invested Rs 37.41 crore in the wind power sector during this quarter. This takes the capital invested by the company in the wind power sector to Rs 109.21 crore. The total installed capacity as on the quarter ended September 30, 2005 stands at 24.375 MW. Vishal Exports has drawn up a Rs 650-crore expansion plan in the power sector. The company plans to invest a 100 MW in wind farm over a period of two years at a capital cost of Rs 550 crore.

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