The Hindu Business Line : S. Kumars net sales up

Mumbai May 11 S. Kumars Nationwide Ltd (SKNL) has reported a 38.4 per cent decrease in net profit at Rs 21.83 crore (Rs 35.44 crore) for the quarter ended March 31. However, net sales rose 49.93 per cent to Rs 371.66 crore (Rs 247.89 crore) for the same period.

For the year 2006-2007, the company's turnover increased 38.19 per cent to Rs 1,229.54 crore (Rs 889.73 crore). Net profit rose 7.79 per cent to Rs 107.47 crore (Rs 99.77 crore).

"Belmonte, the new fabric and ready-to-wear brand for men, launched in the mid-premium price segment, has shown encouraging results. Carmichael House, the home textile brand, launched in the third quarter 2006, too, is poised to leap on new offerings. The company sees further growth and consolidation of the gains made through new brand launches and aggressive expansion of the retailing arm," said Mr Nitin S. Kasliwal, Vice-Chairman and Managing Director, SKNL.

BrandHouse Retails Ltd (BHRL), the retailing arm of the company, has introduced ESCADA, a luxury fashion brand for women in Mumbai and will be launching it soon in New Delhi. It is also offering Dunhill, a fashion brand for men with a store launch in New Delhi later this month.