S Kumars BoD to consider acquisition of US Textile Co

New Delhi, Nov 5 (UNI) S Kumars Nationwide Ltd has said its Board will meet on November 9 to consider and discuss the acquisition of a company in the home textiles space in the US.

''A meeting of the Board of Directors of the company will be held on November 9 to consider and discuss the acquisition of the US-based company,'' a statement said.

The company's board had last month approved raising up to 65 million dollars through equity to fund acquisitions and expansion.

S Kumars posted a whopping 210 per cent increase in its net profit at Rs 27.4 crore for the second quarter ended September 30,2006, as against Rs 8.83 crore during the corresponding period last year.

Its net sales also rose by 31.75 per cent at Rs 278 crore in comparison to Rs 211 crore last year.

UNI PV DKS HT1520