Eastern Silk topline grows 30 per cent in Apirl-June 06

Mumbai, July 20 (UNI) Eastern Silk Industries has reported 12.70 per cent in net profit in the quarter ended June 30, 2006, at Rs 14.35 crore against Rs 8.35 crore in the corresponding quarter last year.

The topline registered 30 per cent rise to Rs 113 crore from Rs 86.65 crore in the corresponding quarter last year.

Significantly, the operating profit margins have shown healthy improvement. It has risen to 19.93 per cent compared to 15.84 per cent in the first quarter of 2005. This, according to the Chairman, S S Shah is the direct result of higher value addition and increasing share of machine-made fabrics in the company's production.

Net profit for the full year in 2005-06 was Rs 38.04 crore on net sales of Rs 387.24 crore. The fully diluted earnings per share on June 30 this year works out to Rs 9.25. It was Rs 27.37 on March 31, 2006, Mr Shah added.

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