VIP Industries Ltd Quarterly net profit more than doubles to Rs.10.77 Crores

VIP Industries Ltd has announced the UnAudited Financial Results for the quarter ended June 30, 2007.

The Company has posted a profit after taxes of Rs.107.7 million for the quarter ended June 30, 2007 where as the same was at Rs.41.7 million for the quarter ended June 30, 2006. Total Income is Rs.1550.7 million for the quarter ended June 30, 2007 where as the same was at Rs.1058.7 million for the quarter ended June 30, 2006.

The company reported an Earnings Per Share (EPS) of Rs.4.23 for Quarter ended June 30, 2007 compared to Rs.2.68 reported during Quarter ended June 30, 2006.

Subsequent to the approval of the Board of Directors to the proposed Amalgamation of Aristocrat Luggage Ltd and Quality Plastics Ltd with the Company, the Company has obtained necessary approvals from the stock exchanges and is in the process of filing application with the Honble High Court of Judicature at Bombay. The Appointed Date for the same is April 01, 2007.

Source : Equity Bulls

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