Singer releases Quarter results

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Singer releases Quarter results
Late on Wednesday, Singer India released its financial results for the quarter ended March 31, 2011. The home appliance and sewing machine maker reported a significant hike in its third quarter net profit and sales.

The company"s net profit for the nine month period ending March 31, 2011 increased to Rs 480 lakh as against Rs. 107 lakh for the corresponding period in the previous year. For the fourth quarter, the company"s net profit increased multi folds to Rs. 214 lakh as compared to a loss of Rs. 21 lakh in the corresponding quarter of the previous year.

The net sales for the nine month period ending March 31, 2011 increased to Rs. 8,768 lakh as against an income of Rs. 6,776 lakh for the corresponding period in the prior year. For the quarter, net sales increased by 28.70 per cent to Rs. 3,344 lakh as Rs. 2,599 lakh in the comparable period last year.

The encouraging performance spurted the stock price for the company. At 12:12 P.M IST on Thursday, on the Bombay Stock Exchange (BSE), stocks of the firm were trading at Rs. 35.00 down by 1.45 per cent or by Rs. 0.50. The stock has seen an intraday high of Rs 37.70 and a low of Rs. 34.40, till then.


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