S Kumars Q1 net up 29.1 pc at Rs 55.09 cr

New Delhi, Jul 17: S Kumars Nationwide Ltd (SKNL) today said its net profit has increased 29.1 per cent to Rs 55.09 crore for the quarter ended June 2008 as against Rs 42.66 crore for the same period a year ago.

Its revenues increased 41.1 per cent to Rs 535.15 crore for Q1 FY09 as compared to Rs 379.36 crore for the corresponding period last fiscal. ''We have successfully completed a PE deal with GIC, the private equity arm of the Government of Singapore Investment Corporation. GIC has invested Rs 900 crore in Reid and Taylor and acquired 25.4 per cent stake in the company,'' SKNL, Managing Director, Nitin Kasliwal said in a statement. The balance stake of 74.6 per cent will remain with SKNL, he added.

UNI