Business Daily from THE HINDU group of publications
Tuesday, May 08, 2007
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Business Daily from THE HINDU group of publications Tuesday, May 08, 2007 ePaper |
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Corporate Results
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Textiles Indus Fila posts 5-fold rise in net Our Bureau
Bangalore May 7 Textile sourcing company Indus Fila Ltd has posted an over five-fold rise in net profit for fiscal 2006-07 at Rs 26.14 crore from Rs 5.16 crore last year. Its total income has risen 227 per cent to Rs 273.64 crore (Rs 83.67 crore). The company has recommended a dividend of 15 per cent - i.e. Rs 1.50 per share of Rs 10 each, subject to shareholder approval. Mr Nitin Mandhana, Vice-Chairman and Managing Director, Indus Fila, said the company, was confident of "hitting the Rs 410-421-crore mark in revenues in the next financial year." He also expects to achieve profit after tax of Rs 40-42 crore. With expansion in Bangalore and a new plant at Hindupur in Andhra Pradesh, Indus Fila hopes to increase production capacity from 11,000 garment pieces per day to 42,000 pieces, said Mr Mandhana. For the quarter ended March 31, 2007, Indus Fila reported a total income of Rs 83.6 crore and PAT of Rs 8.18 crore. The company had gone in for an IPO in March.
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