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Our Bureau

Mumbai, Feb. 2

VIP Industries Ltd has reported a net profit of Rs 0.11 crore for the quarter ended December 31, 2006, compared to a loss of Rs 1.69 crore in the corresponding period of the previous year. Net sales rose 10.19 per cent to Rs 79.39 crore (Rs 72.05 crore).

During the quarter, the company opened 14 exclusive showrooms, taking the total to 117 across the country. The amalgamation of Blow Plast Ltd and VIP Industries Ltd has received approval from the Bombay High Court and will be effective upon completion of the procedural requirements with the appointed date set at April 1.

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