VIP declares higher dividend at Rs 2.50 per equity for FY 2007

Mumbai, June 4 (UNI) The Directors of Asia's largest luggage manufacturer V I P. Industries Limited have recommended a dividend of Rs 2.50 per Equity Share for the Financial year ended March 31, 2007 as against Rs 2.00 per Equity Share the previous year. The Company made a Net Profit of Rs 3.80 crore for the quarter ending March 31, 2007 as against Rs 3.76 cr for the same period in the previous quarter ending March 31, 2006, the release said.

Net sales for the quarter jumped by 23 per cent to Rs 98.10 cr for the quarter ending March 31, 2007 as against Rs 79.90 cr for the same period in the previous quarter ending March 31, 2006.

Consolidated Net Sales for FY 07 stood at Rs 449.75 crores as against Rs 327 crores for the Year ended March 31, 2006.

UNI