Abhishek Industries Q3 net profit at Rs 15.78 cr

NEW DELHI: Trident group firm Abhishek Industries today posted a net profit of Rs 15.78 crore for the third quarter ended December 31, 2010.

The company had a net profit of Rs 92.9 lakh in the same period previous fiscal, Abhishek Industries said in a filing to Bombay Stock Exchange (BSE).

Net sales of the company stood at Rs 585.36 crore for the third quarter ended December 31, 2010, while the same was Rs 459.41 crore in the same period last fiscal.

The company's board has proposed to change the name of the company from Abhishek Industries Limited to Trident Limited subject to shareholders and regulatory authorities, it said.

"The change in the name of the company is part of branding strategy of the group and to leverage the brand equity of Trident Group," it added.

Shares of Abhishek Industries today closed at Rs 14.76 on BSE, up 2.64 per cent from its previous close.