Superhouse reports first quaterly profits of Rs 18 lakh

Mumbai, Aug 3 (UNI) Leather export major, Superhouse has reported a net profit of Rs 18 lakh for the first quarter ended June 30, this year.

Though net sales increased by 22 per cent, the appreciating rupee, competition from China, increased interest and depreciation costs lowered profitability, an official statement said.

The company has plans for expansion in its footwear division by 50 per cent, with an investment of Rs 80 crore in the current fiscal to meet rising demands from the US market.

Superhouse is engaged in the production of leather garments, shoes, bags, accessories, fashion and riding garments for the global market. It has 12 units spread across Kanpur, Unnao, Noida and Agra, the statement added.

UNI