Himatsingka Seide Ltd's Q2 Net profit up 22.4% at Rs 1622 Lakhs

Himatsingka Seide Ltd’s Q2 Net profit up 22.4% at Rs 1622 Lakhs

Key Highlights (Standalone)
Financial performance (Q2 ended 30th September 2006)

• HSL’s Total revenues (including other income) are up by 31.7% at Rs 5386 Lakhs compared with Rs 4087 Lakhs in the corresponding quarter of previous year.
• Sales turnover at Rs.4699 Lakhs for Quarter ended 30th September is up by 24.3% as compared to the corresponding Quarter of the previous year.
• PBIDT up by 29.13% to Rs 2277 Lakhs as against Rs 1763 Lakhs in Q2 2005-06.
• Net profits higher by 22.4% at Rs 1622 Lakhs (Q2 2005-06 Rs 1325 Lakhs).
• Quarterly Earnings per share at Rs 1.67 (post equity dilution through GDR), EPS annualised Rs 6.68.
• The Board of Directors has recommended payment of 25%( Rs. 1.25 per share of Rs.5 each) Interim Dividend. The record date for the purpose of Interim Dividend has been fixed as 3rd November 2006.

Bed Linen Project
Erection of plant & machinery is currently on at the project site in Hassan.

Retail Business
The Company’s retail business operated under the brand "ATMOSPHERE" through its wholly owned subsidiary, Himatsingka Wovens Private Limited, saw significant sales growth of 57.2 % in the quarter ended 30th September, 2006 compared to corresponding period in the previous year. Sales in the quarter ended 30th September 2006 stood at Rs 575 lakhs, as compared to Rs 366 lakhs in Q2 2005-06.

Source : Equity Bulls

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