Bhartiya International Limited, India's leading fashion and lifestyle house, announced 48.70% rise in net sales to Rs 59 crore for Q4FY13 compared to Rs. 39.7 crore in the corresponding quarter of FY12
Highlights:
Q4FY13 vs. Q4FY12 Performance:
- Net Sales at Rs 59 crore vs. Rs 39.7 crore, up 48.70 %
- EBIDTA at Rs 3.30 crore vs Rs 2.96 crore, up 11.6 %
- Net Profit at Rs 0.61 crore vs Rs 0.56 crore, up 8.07%
- Basic EPS (not annualized) at Rs 0.56
FY13 vs. FY12 Performance:
- Net Sales at Rs 247.30 crore vs. Rs 207.38 crore, up 19.25%
- EBIDTA at Rs 18.89 crore vs Rs 16.28 crore, up 16%
- Net Profit at Rs 8.3 crore vs Rs 7.3 crore, up 12.6%
- Basic EPS at Rs 7.65
Net profit rose 8.07% to Rs 0.61 crore for Q4FY13 compared to Rs. 0.56 crore in the corresponding quarter of FY12. Operating profit (EBIDTA) was Rs 3.30 crore as against Rs 2.96 crore during the same period last year. Earnings per share (not annualized) for the quarter stood at Rs 0.56.
For FY13, Net Sales rose 19.25% to Rs 247.30 crore as against Rs 207.38 crore for the corresponding period in the previous year. The Company derived Rs 217.29 crore from its leather products business, an increase of 12.08% while Rs 30 crore was accounted by textile apparels, up 122% during the year.
Operating profit (EBITDA) was Rs 18.89 crore compared to Rs 16.28 crore in the same period a year ago.
The Net Profit for the financial year FY13 stood at Rs 8.3 crore as against Rs 7.3 crore reported in the same period of FY12, an increase of 12.6%. Earnings per share for FY13 stood at Rs 7.65.
The Board of Directors have recommended a dividend of Re One per share (10 %).
Commenting on the company's performance, Mr. Snehdeep Aggarwal, Founder & Chairman, Bhartiya International Ltd said, "The driving force of our business model is design which is reflected in both our verticals - Fashion and Realty.
Mr. Bob Moore who has recently joined us as the CEO of Bhartiya Fashion will spearhead our foray into the US market for leather garments, textiles and leather accessories. His appointment has further strengthened the strong professional team built by the company over the last year"
On the realty front, Mr. Aggarwal said "Our prestigious project 'Bhartiya City' has received an overwhelming response and we have sold 95% of 2 million square feet of residential apartments in phase-I of the project within a span of just 7 months. We have appointed an EPC player for our residential project and the IT SEZ. We look forward to consolidate our performance."
