Fancy fabrics producer Orbit Exports FY12 PAT up by 17%

29 May '12

2 min read

Orbit Exports Limited (OEL), one of the largest manufacturers of fancy fabrics, reported a robust growth in revenue and profits for the quarter ended, March 31, 2012. The revenue for the quarter ended March 31, 2012 increased to Rs.32 Cr. (an increase of 13%) compared to Rs.29 Crore during corresponding period of previous year.

The profit after tax for the quarter ended March 31, 2012 stood at Rs. 2 Cr (an increase of 3.42%) compare to Rs.1.93 Cr in the corresponding period of the previous year. The profit during the quarter would have been still better had the company not incurred a foreign currency fluctuation loss aggregating Rs.1.04 Crore due to steep weakening of Rupee in the foreign currency market.

The revenue for the year ended March 31, 2012 rose by 13% to Rs.102 Cr (an increase of 13%) compare to Rs.90 Cr during previous year. Net Profit during the year registered 9.03 cr. (an increase of 17%) compare to Rs.7.69 Cr during previous year.

The interim dividend declared @ Rs.2.50/- per share during Feb, 2012 has been recommended to be final for FY 12. The board has recommended an issue of bonus shares in the ratio of 1 share for every 2 shares held.

Commenting on the results, Mr. Pankaj Seth – Managing Director, Orbit Exports Ltd said, “We are extremely pleased with our performance. We are in an expansion mode and we have been growing to our potential year on year. We thank all our shareholders for their continuous support & we will strive hard to keep up to their expectations.”

Orbit Export Ltd (OEL) is in the business of manufacturing novelty fabrics, including made-ups, prints, jacquards, imitation silks, metallic, furnishings and various blends of man-made fabrics.

Orbit Exports Limited (OEL)

More Textiles News - India...