Vijay Textiles, Welspun Q3 results

CORPORATE SCORECARD

Vijay Textiles net up at Rs 4.17 cr

Vijay Textiles Ltd's net profit for the third quarter ended December 31, 2004, registered a massive growth to Rs 4.17 crore compared with Rs 35.83 lakh in the corresponding previous quarter. Sales during the quarter gew 68 per cent to Rs 24.4 crore (Rs 14.52 crore).

According to B Vijay Kumar Gupta, chairman and managing director, "The operations improved because of the new business strategy, wherein we are directly selling through our retail outlet in Hyderabad and also owing to the of the technology upgradation."

The earnings per share (EPS) for the quarter was Rs 12.53. The company's board has decided to go in for a stock split and revised the face value from Rs 10 to Re 1 a share.

The company has also recommended an interim dividend of 40 per cent and the record date for the purpose of dividend has been fixed on March 4.

Welspun-Gujarat net drops 36%

Welspun-Gujarat Stahl Rohren reported a 36.41 per cent decline in net profit at Rs 12.40 crore for the quarter ended December 31, 2004 compared with Rs 19.50 crore in the corresponding quarter in 2003.

During the quarter under review, total income increased to Rs 283.70 crore in the reporting quarter from Rs 250.80 crore in the same quarter of previous year.

The company during the quarter issued foreign currency convertible bonds aggregating $40 million and 8 per cent optionally convertible cumulative preference shares aggregating Rs 2.2 crore.