Mafatlal Industries posts higher net profit at Rs 4.8 crore in September quarter

MUMBAI: Mafatlal Industries Ltd (MIL) today said its net profit grew to Rs 4.81 crore during the second quarter ended September 30, from Rs 2.65 crore posted in the same period last year.

Standalone total income jumped to Rs 278.72 crore in the quarter under review from Rs 98.55 crore in the same period last year, the flagship company of Arvind Mafatlal Group said in a release here.

For the six months ended on September 30, MIL's total income was Rs 501.15 crore and net profit stood at Rs 17.86 crore.

Mafatlal Denim Ltd and Mishapar Investments Ltd, a wholly-owned subsidiary of the company, have been amalgamated with MIL, the effect of which has been given in the quarter ended March 2013.

Thus, the quarterly and half-yearly financial numbers are not comparable with those of the corresponding period of last year, the release said.

Mafatlal Industries has textile mills at Navsari and Nadiad in Gujarat. It has a network of 400 dealers and 35,000 retail outlets throughout India.