Date:01/11/2006 URL: http://www.thehindu.com/2006/11/01/stories/2006110103042000.htm

Business - Briefly

Visakha Industries H1 net up 72.7 p.c.

HYDERABAD: Visakha Industries has reported a net profit of Rs. 7.26 crore for the second quarter ended September 30, 2006, against Rs. 5.63 crore, a growth of 29 per cent. Net sales income stood at Rs. 86.08 crore against Rs. 67.79 crore. The net profit during the first half has improved to Rs. 16.45 crore from Rs. 9.52 crore, registering a 72.71 per cent growth. Net sales income from operations stood at Rs. 201.66 crore against Rs. 145.71 crore, marking a 38.4 per cent increase. VIL General Manager, G. Vivekanand, told reporters here on Tuesday that the earnings per share during the period went up to Rs. 15.06 from Rs. 8.77 of the previous fiscal. The company had also received approval for placement of 40 lakh equity shares of Rs. 10 each with qualified institutional buyers and the amount raised would be utilised for financing the setting up of a reinforced building boards manufacturing unit with a capacity of 50,000 tonnes near Vijayawada.