Safari Industries Q1 net profit up 60.54 pc to Rs 96.94 lakh

NEW DELHI: Luggage maker Safari Industries today posted a 60.54 per cent increase in its net profit for the first quarter ended June 30, 2011, at Rs 96.94 lakh, compared to the corresponding quarter of the last fiscal.

For the three months ended June 30, 2010, the company's net profit stood at Rs 60.38 lakh, it said in a filing to the Bombay Stock Exchange ( BSE).

Safari Industries' net sales for the first quarter of the current fiscal grew 24.36 per cent to Rs 22.97 crore, as against Rs 18.47 crore in the same period of last financial year.

The company's scrips were trading at Rs 135.50 per share, up 7.11 per cent in afternoon trade on the BSE.