Pioneer Embroideries FY08 Q4 sales up

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Mumbai, Apr 30 (UNI) Pioneer Embroideries Limited (PEL), a leading manufacturer and exporter of embroidered fabrics and laces, recorded a net profit of Rs 1,026.64 lakh, while that of the final quarter is at Rs 263.22 lakh.

The year-end results of the Company are well on track at Rs 17,515.80 lakh, 15.94 per cent up from last year's Rs 15,107.11 lakh for the same period.

Announcing the results, Pioneer Embroideries Limited Executive Director Harsh Vardhan Bassi said, its Q4 FY08 Net Sales were 30 per cent up to Rs 5,743.34 lakh against Rs 4,410.24 lakh for the corresponding period last year, since we kept our target of reaching out to newer markets and spreading our business.

The Company had made allotment of 3,94,356 Equity Shares of Rs 10 each at a premium of Rs 213.96 per share in January against conversion of USD 2 million FCCB, an official statement said.


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