Shalimar Paints today reported a standalone net loss of Rs 3.13 crore for the first quarter ended June 30, 2014, due to production loss after fire.
The company had net profit of Rs 1.82 crore in the April-June quarter of the previous fiscal, 2013-14.
However, company's net sales increased to Rs 113.30 crore during the quarter under review as against Rs 102.96 crore in the same period a year-ago period, Shalimar Paints said in a BSE filing.
"It was a tough quarter for us in which the company lost 30 per cent of its production capacity due to the unfortunate fire at Howrah plant.
"However, we were able to grow sales as a result of increased focus on the consumer business and the actions initiated around dealer & painter engagement, and realignment of our distribution network," its MD Sameer Nagpal said.
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Arvind Q1 PAT up 14% at Rs 90 cr;Revenue up 19% at Rs 1,773 cr * Arvind Ltd, one of the largest integrated textile and branded apparel players, today reported 14 per cent growth in profit after tax at Rs 90 crore for the quarter ended June 30.
The company's PAT stood at Rs 79 crore in the same period of 2013-14, Arvind said in a release.
Revenues grew by 19 per cent to Rs 1,773 crore for the quarter against Rs 1,491 crore in the year-ago period.
Commenting on demerger of real estate business, he said, "We sees an attractive opportunity and strategic fit in real estate development. The demerger will allow Arvind to deploy its resources fully in its core activities and allow AIL to raise further capital and debt as required for its growth."
Arvind Infrastructure Ltd (AIL), a wholly-owned subsidiary of Arvind Ltd is engaged in real estate development.
As of now, AIL is managing 11 projects in Ahmedabad and Bangalore with 5.3 million sq ft over 360 acres of land.
In order to drive the growth of real estate business independently, the Board of Arvind has approved the Scheme of Arrangement between Arvind and AIL for de-merger and transfer of Real Estate Undertaking to AIL.
AIL will issue to the shareholders of Arvind Ltd one share of Rs 10 each for every 10 shares of Rs 10 held by them.
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Convention to create awareness on post research procedure * To create awareness on post research procedrues like dissemination and writing of good manuscript, a two-day convention organised by Coimbatore-based Avanashilingam University for Women will get underway from August 1.
The 'post research convention+ would also focus on preparing quality proposal for funding, journal indice, impact factor, IPR and Patenting and group discussions with resource persons, a university release said today.
Around 150 research scholars will participate in the convention, with 20 experts from academia, as resource persons, the release said.
