ESIL net profit grows by 38.7% in Q3

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Kolkata, Jan 17 (UNI) Eastern Silk Industries Ltd(ESIL) today announced a growth of 38.67 per cent in its net profit to Rs 25.51 crore in this quarter ending on December 31, 2007 from Rs 18.40 crore in the corresponding quarter of 2006-07.

The net sales recorded was at Rs 168.96 crore against Rs 125.14 crore in the corresponding quarter last year, recording a growth of 35 per cent.

For the full year ended March 31, 2007, the company had reported a net profit of Rs 57.67 crore on net sales of Rs 451.20 crore.

The diluted earning per share on December 31, 2007, works out to Rs 10.16 against Rs 11.65 on December 31, 2006, representing growth in earnings of 29.17 per cent.

Commenting on the results, Chairman and Managing Director of ESI S S Shah said, ''Considering the difficult environment in which exporters have been operating in the face of the rising rupee vis-a-vis the collar, the results are quite satisfying in the quarter under review the company has made significant inroads in the fashion conscious markets of the US and Europe. Barring unforeseen circumstances, this momentum should continue in the next quarter as well.

ESI manufactures a wide range of textile products, including silk garments, scarves, ties, stoles, belts etc. Buyers come from all over the US, Canada, EEC, UK, France, Scandinavian, the West Asia and EFFTA countries, Japan, Australia and New Zealand.


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