Timex posts Q4 net profit at Rs 2.47 crore

NEW DELHI: Watchmaker Timex Group India today posted net profit of Rs 2.47 crore for the fourth quarter ended March 31, 2011.

It had reported a net loss of Rs 2.55 crore in the same quarter of the previous fiscal.

The company's net sales for the three-month period under review increased 41.58 per cent at Rs 38.95 crore, it said in a filing to the Bombay Stock Exchange.

Timex had registered sales to the tune of Rs 27.51 crore during the fourth quarter of 2009-10, it added.

For the year ended March 31, 2011, the company's net profit saw a three-fold increase to Rs 14 crore, as against Rs 4.62 crore in 2009-10.

Timex' net sales for the twelve-month period ended March 31, 2011 grew 27.27 per cent at Rs 172.56 crore, compared to Rs 135.58 crore in the previous fiscal.

The company's scrips closed at Rs 36.90 per share, up 7.27 per cent compared to the previous close on the Bombay Stock Exchange.