Orbit Exports Q1 results

Posted By: Religare
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Orbit Exports Q1 results
Orbit Exports, an export house engaging in manufacturing and exports of fancy fabrics, declared its financial results for the year and quarter ended March 31, 2011 on Tuesday. The company reported a strong financial performance with its profit after tax (PAT) for the fiscal increasing by 134 per cent to Rs. 769.30 lakh as against Rs. 328.95 lakh in the previous year.

For the fourth quarter, the company"s PAT increased by 203 per cent to Rs. 192.76 lakh as compared to Rs. 63.62 lakh for the corresponding quarter in the year-ago period.

The total income for the fiscal increased by 46 per cent to Rs. 9,021.11 lakh as against an income of Rs. 6,168.00 lakh for the prior year. For Q4, the total income increased by 88 per cent to Rs. 2,893 lakh as Rs. 1,519.19 lakh in the comparable period in the previous fiscal.

On the Bombay Stock Exchange (BSE), stocks of the firm closed trading at Rs. 91.60 down by 2.29 per cent or by Rs. 2.15. The stock saw an intraday high of Rs 95.00 and a low of Rs. 90.30.

In related news, Sunil O. Khandelwal, CEO of Alok Industries quoted in a statement that the overall textile scenario is showing positive signs and companies are witnessing decent demand in exports as well as locally.

Alok Industries also recently posted a strong financial performance, its PAT for the quarter rose by 68 per cent to Rs. 160.5 crore.

Read more about: orbit exports, results, bse, nse, textile
Story first published: Wednesday, May 4, 2011, 9:30 [IST]
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