Pantaloon Retail Q4 net up 47% at Rs 15.83cr

Pantaloon Retail has posted a 46.70% jump in its net profit at Rs 15.83 crore for the quarter ended June 30 (Q4FY06) as compared to Rs 10.79 crore in Q4FY05.

According to an official release issued by the company to the BSE today, total income of the company increased 55.23% to Rs 578.12 crore for the fourth quarter ended June 30 as against Rs 372.42 crore in the same period last fiscal.

The board of directors have recommended a dividend of Rs 2.50 per equity share, subject to shareholders approval.

In the quarter, the company opened five Big Bazaar stores, two Food Bazaars, three Pantaloon stores and two Fashion Stations in various cities in the country, the release said.

Earnings per share (EPS) of the company stood at Rs 5.89 for Q4FY06 as against Rs 4.95 in Q4FY05.

Update at 1043 hrs: The board of directors of Pantaloon Retail India, at its meeting held on September 30, approved an MOU with UK-based Alpha Airports Group Plc (Alpha), for forming of a 50-50 joint venture (JV) company.

According to a release issued by Pantaloon to the BSE today, the JV company will develop travel, retail and food & beverage catering businesses at the leading airports in India.

The board also approved a stock split in the ratio 1:5, ie each equity share with a face value of Rs 10 to be sub-divided into five shares of Rs 2 each.