Mafatlal Industries posts net profit of Rs 22.96 cr in Q4 FY13
Mafatlal Industries Ltd said it has registered a net profit of Rs 22.96 crore for the quarter ended March 2013.
By PTI | Updated:
MUMBAI: Mafatlal Industries Ltd, a flagship company of Arvind Mafatlal Group today said it has registered a net profit of Rs 22.96 crore for the quarter ended March 2013 as compared to Rs 29.73 lakh net loss in the same period last year.
The company's total turnover jumped to Rs 420.34 crore in Q4 FY 13 as against Rs 40.34 crore in Q4 FY 12, a company statement said here.
The company has reported a total turnover of Rs 797.49 crore, profit after tax of Rs 37.16 crore and earning per share (EPS) of Rs 26.71 in FY 13 after giving effect to the amalgamation and consolidation of the businesses of the Mafatlal Denim Ltd and Mishapar Investments Ltd with the company.
The Arvind Mafatlal Group has been in the textile business since 1905. To mark the centenary year, they declared a special centenary dividend of Rs 2 per share in addition to the normal dividend of Rs 3 per share aggregating to Rs 5/- per equity share on 1,39,12,886 equity shares of face value of Rs 10 each has been recommended.
The amalgamation of Mafatlal Denim with Mafatlal Industries will result in operational synergies, flexibility in use of manufacturing facilities, opportunity for expanding the denim and textile businesses, sharing of manufacturing overheads and economies of scale, the release said.
Besides, it will ensure a larger product mix offering to some of the most demanding customers and brands in India and abroad, marketing synergies, a wider combined distribution network in India and globally, potential for branding / retailing and, expansion of MIL's own/franchisee retail shops pan-India.
The company's total turnover jumped to Rs 420.34 crore in Q4 FY 13 as against Rs 40.34 crore in Q4 FY 12, a company statement said here.
The company has reported a total turnover of Rs 797.49 crore, profit after tax of Rs 37.16 crore and earning per share (EPS) of Rs 26.71 in FY 13 after giving effect to the amalgamation and consolidation of the businesses of the Mafatlal Denim Ltd and Mishapar Investments Ltd with the company.
The Arvind Mafatlal Group has been in the textile business since 1905. To mark the centenary year, they declared a special centenary dividend of Rs 2 per share in addition to the normal dividend of Rs 3 per share aggregating to Rs 5/- per equity share on 1,39,12,886 equity shares of face value of Rs 10 each has been recommended.
The amalgamation of Mafatlal Denim with Mafatlal Industries will result in operational synergies, flexibility in use of manufacturing facilities, opportunity for expanding the denim and textile businesses, sharing of manufacturing overheads and economies of scale, the release said.
Besides, it will ensure a larger product mix offering to some of the most demanding customers and brands in India and abroad, marketing synergies, a wider combined distribution network in India and globally, potential for branding / retailing and, expansion of MIL's own/franchisee retail shops pan-India.
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