S Kumars net up 211%

BS 200 Scorecard

S Kumars Nationwide (SKNL) has reported 211 per cent growth in net profit in the second quarter ended September 30 2006, to Rs 27.42 crore from Rs 8.83 crore in the year-ago period.

The textile company reported an increase of 32 per cent in its turnover at Rs 278.25 crore against Rs 210.19 crore for the quarter ended Sepetember 05. Operating profit, during the period, grew 75 per cent to Rs 58 crore from Rs 33 crore.

S Kumars' board has given consent to raise $65 million (approximately Rs 292.5 crore) for financing acquisition, capital expenditure and working capital.

The funds will be raised through qualified institutional placement.

"The continued growth is due to a combination of strong fundamentals of the company coupled with strict adherence to plans," said Nitin S Kasliwal, vice chairman and managing director.