Morarjee Textiles net profit up 24.6% in Q4

19 May '07

3 min read

• A sum of Rs.5.76.crores in equity shares of Mens Club SPA of Italy by acquiring 50% stake. A further 17% equity stake in Mens Club has been taken at a cost of Rs.1.96 crores by the company's subsidiary - Morarjee International srl. The consolidated stake in Mens club S.P.A. is 67%.
• Earning per share for the year ended March 30, 2007 was Rs.8.31 as compared to Rs. 8.98 for the same period last year

Commenting on the Q4 Results, Mr. Harsh Piramal, Executive Vice Chairman, Morarjee Textiles Limited said, “The year at Morarjee Textiles Limited (MTL) has been one of investment and growth. We acquired Men's Club a premier, high end shirting brand in Italy. We have invested in the apparel and fabric businesses through Integra and Just Textiles so that there is increase in value realisation across our business."

"The year ahead is for consolidation and growth and we have ear-marked Rs. 120 crores to be invested in all our businesses. Through strategic investment and a well-developed growth plan we will come a step closer to our goal of being the global leader in premium fashion, fabric and apparel through innovative product and design development.”

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