India : Evinix Accessories net profit shot up by 100%

Evinix Accessories Ltd reported 249.45 percent jump in its net profit at Rs. 5.36 crore for the second quarter ended September 30, 2007 as compared to Rs. 1.53crore in the corresponding period last year. Net Sales more than doubled rising by 102.32 per cent at Rs 32.22 crore in the second quarter ended September 2007 as compared to Rs. 15.92 crore for the same period last year. The earning per share (basic and diluted of face value of Re 10) for the quarter stood at Rs 5.01 as on September 30, 2007 compared to Rs 2.13 in the corresponding quarter last year. Even more impressive is the growth achieved by the company over April – June, 2007 quarter, where sales increased by over 50% and net profit shot up by more than 100%. Meanwhile, the company has reported a 155.74 per cent jump in consolidated net profit at Rs 8.04 crore for the six months ended September 30, 2007 as compared to Rs 3.14 crore in the corresponding quarter previous year. Total consolidated income rose to 76.57 per cent at Rs 53.47 crore as against Rs 30.25.crore during the same period previous year. Mr. Raujeev Taneja, Managing Director, Evinix Accessories Ltd. said, “While the company’s financial results reflect strong returns on invested capital, our dedication manifests itself in our products. Going forward, the company is in the process of rolling out its next phase of expansion plans. Evinix has been moving into the world of fashion & lifestyle product supplier at a fast pace in the last three years. Today it is known for its design, technical acumen, quality products and deliveries. The company holds licenses from Gini & Jony and Disney for production and sale of their products in the domestic market. The company is also actively negotiating several other licenses with renowned brands overseas for production and sale under their brands in the domestic market in various formats.

Evinix Accessories Limited