Vertex Spg announces net profit rose by 1820 pc for Q1

Mumbai, July 31 (UNI) Vertex Spinning Ltd (previously knowns as Vertex Technology Ltd) has reported a net profit after tax rose by 1820 per cent to Rs 1.70 crore for the first quarter ended June 30, 2006 as against Rs 8.89 lakh for same period in the previous year.

Total sale also gone up 121 per cent to Rs 19.41 lakh for the first quarter ended June 2006 as compared to Rs 8.93 crore for the corresponding period of the previous year.

According to Mr Sachin Suresh MD, Vertex said that the promoters share holding, which was 59 per cent has gone up to 92 per cent. The Company is having state of the art manufacturing plant imported from Korea and the plant is situated at Pithampur Distric, Dhar, Madhya Pradesh. It is a composite unit having manufacturing facilities like aercylic yarn, knitting, dyeing, printing, processing and finishing.

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