Mafatlal Industries Q1 net up three fold at Rs 13.05 cr

NEW DELHI: Mafatlal Industries today reported over three-fold increase in net profit at Rs 13.05 crore in the first quarter ended June 30, 2013, driven by higher sales.

The company had reported net profit of Rs 4.13 crore in the same period a year ago.

Mafatlal's net sales jumped by 60.79 per cent to Rs 218.2 crore in the quarter under review as against Rs 135.7 crore in the corresponding quarter last year, the company said in a BSE filing.

However, the company said that quarterly financial numbers are not comparable as the entire effect to the amalgamation and consolidation of the businesses of the Mafatlal Denim Ltd and Mishapar Investments Ltd with the company had been given in the quarter ended March 31, 2013.

Overall expenses of the company were at Rs 214.12 crore in the quarter, increase of 53.87 per cent as compared with Rs 139.15 crore in the corresponding quarter last year.

Shares of Mafatlal Industries closed at Rs 99.50 apiece at the end of day's trade, up 2.58 per cent from their previous close.