Nitco Tiles FY 2007-08 Net Profit up 34%

Editor's synopsis

FY08 Net Profit at Rs. 51.02 crore; rises 34%

FY08 Net Sales at Rs. 578.26 crore; soars 40%

Q4FY08 Net Profit at Rs. 13.31 crore; up 3%

Q4FY08 Net Sales at Rs. 176.70 crore; jumps 41%

Nitco Tiles Ltd, one of the largest tile manufacturers in the country today announced a 34 % jump in Net Profit to Rs 51.02 crore for the year-ended March 31st 2008 as against Rs 38.02 crore posted in the same period of last fiscal. During the same period Net Sales for the year stood at Rs 578.26 crore up 40% as compared to Rs 413.11 crore recorded in FY07. Earnings Per Share for the fiscal was at Rs 18.16 as against Rs 16.39 in the last fiscal.

For Q4FY08 Nitco reported Net Profit of Rs. 13.31 crore compared to Rs. 12.93 crore in Q4FY07. Net Sales for the quarter stood at Rs. 176.70 crore compared to Rs. 125.13 crore. EPS for the quarter was Rs 4.14 as against Rs 4.98 in the last quarter of FY07.

During the year, the company has accomplished many of its tasks at hand. Nitco Tiles flagged off its retail venture with the launch of 12