Interviews
News Flash
Maxwell Industries net sales up 25% for Q2 ended Sept '06
31 Oct '06
2 min read
Maxwell Industries Limited, VIP Group's flagship company, has posted 25.00 per cent rise net sales at Rs. 49.15 crore for the second quarter ended September 30, 2006 compared to Rs 39.32 crore during the same quarter previous year.
Net profit during the quarter rose by 1.82 per cent rise at Rs. 1.50 crore for the second quarter ended September 30, 2006 as compared to Rs. 1.47 crore in the corresponding quarter previous year.
Meanwhile, the company has posted 48.56 percent rise in net profit to Rs. 4.04 crore for the six months period ended September 30, 2006 compared to Rs. 2.72 crore in the corresponding period previous year.
Net sales increased by 23.41 percent to Rs. 99.46 crore compared to Rs. 80.60 crore during the same period previous year.
Commenting on company's financial performance, Mr. L. Vinaybhushan Reddy, Director, Maxwell Industries Limited said, “We are witnessing a robust volume growth has been fueled by better demand conditions complemented by our marketing initiatives in the inner wear market and this has translated into revenue and bottom line growth.”
He also added, “We plan to take more initiatives on brand extensions and plan to tap niche product to enhance our presence across each market segment.”
The company plans to consolidate all group brands under the Maxwell umbrella. During the year, the company plans to merge its two group companies Lovable Lingerie, Live-in Jeans and Daisy Dee Lingerie.
The company is also setting up JV's with two European companies who are the market leaders in the innerwear business. These joint ventures will be a vehicle for International Brands' launches and Outsourcing.
Click here to view Maxwell Industries Q2FY07 results.
Net profit during the quarter rose by 1.82 per cent rise at Rs. 1.50 crore for the second quarter ended September 30, 2006 as compared to Rs. 1.47 crore in the corresponding quarter previous year.
Meanwhile, the company has posted 48.56 percent rise in net profit to Rs. 4.04 crore for the six months period ended September 30, 2006 compared to Rs. 2.72 crore in the corresponding period previous year.
Net sales increased by 23.41 percent to Rs. 99.46 crore compared to Rs. 80.60 crore during the same period previous year.
Commenting on company's financial performance, Mr. L. Vinaybhushan Reddy, Director, Maxwell Industries Limited said, “We are witnessing a robust volume growth has been fueled by better demand conditions complemented by our marketing initiatives in the inner wear market and this has translated into revenue and bottom line growth.”
He also added, “We plan to take more initiatives on brand extensions and plan to tap niche product to enhance our presence across each market segment.”
The company plans to consolidate all group brands under the Maxwell umbrella. During the year, the company plans to merge its two group companies Lovable Lingerie, Live-in Jeans and Daisy Dee Lingerie.
The company is also setting up JV's with two European companies who are the market leaders in the innerwear business. These joint ventures will be a vehicle for International Brands' launches and Outsourcing.
Click here to view Maxwell Industries Q2FY07 results.
Maxwell Industries Limited
Popular News
Leave your Comments
Editor’s Pick
Christian Guinet
French Textile Equipment Manufacturers’ Association (UCMTF)
Fan Liyuan
JIANGSU YINGYANG NONWOVEN MACHINERY CO., LTD
Amritha Ram
Brand - KH House of Khaddar
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
