AIL reports 51% hike in net profit for Q4, announces 1:1 bonus issue
New Delhi, May 1 (UNI) Alps Industries Ltd (AIL) today announced a bonus issue in the ratio 1:1, while it reported a 51 per cent hike in its net profit at Rs 8.01 for the fourth quarter ended 31 March 2006, as against Rs 5.32 crore for the corresponding period last year.
The company reported a 73 per cent increase in net profit at Rs 24.46 crore for the financial year ended 2005-06. as against Rs 14.14 crore of the previous year.
The Bonus issue in the ratio of 1:1, will be for all shareholders, including GDR holders as well as Zero Coupon Convertible Warrants holders, and is subject to the approval of the shareholders at the forthcoming Extra Ordinary General Meeting, a statement released here said.
The company also reported a 69 per cent increase in its income from operations at Rs 84.58 crore for its fourth quarter, as against Rs 50.05 crore for the corresponding period last year.
A 46 per cent growth for the same at Rs 263.03 crore was reported for the financial year ended 2005-06, as against Rs 179.56 crore for the same period last year.
Speaking about the performance, Alps Industries Ltd MD Sandeep Agarwal said, ''In order to reinforce the market reach so as to fully capture the emerging opportunities and to reach the customers directly for improved responsiveness to changing customer, we are setting up a new subsidiary to take up retail operations.'' AIL, is a global manufacturer of yarns, home furnishings, natural dyes, and fashion accessories.
The company has 7 production facilities, which operate on state-of the-art production technology and maintain Environment Management Systems.
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