V.I.P. Industries Q3 2006 exports grow 31.8%

VIP Industries plan to introduce Carlton range of products in the Indian market soon.

29 January 2006
MUMBAI, INDIA

Asia's largest luggage manufacturer V.I.P. Industries has reported a loss of Rs 1.69 crore in the quarter ended December ,31 , 2005, (Q3), compared to Rs 2.17 crore the same period the previous year.

V.I.P reported a 3.45% drop in total income, at Rs 78.70 crore for the period, compared to Rs 81.51 crore in the correspondingquarter the previous year.

V.I.P said exports registered a record 31.8% growth, mainly triggered by its Carlton brand. V.IP. Industries chairman Dilip G Piramal said that with Carlton driving its growth story and new product launches V.I.P is poised to increase its financials in the near future.

Carlton range of products’ exports have touched Rs 30 crore. Carlton would be soon introduced in the domestic market also, Piramal said. V.I.P said its total income for the 9-month period ended December 31, 2005, stood at Rs 251.87 crore , which is an increase of 2.91% over the corresponding period the previous year. Net profit during the period rose from Rs 2.95 crore in 2004 to Rs 4.36 crore for the 9-month period ended December 31, 2005.

The earnings per share has been put at Rs 2.84. V.I.P. had launched an advertising blitz after unveiling its new brand identity in the third quarter. V. also intricued a slew of products in the premium, popular and economy range in the last quarter.

V.I.P. Industries is also setting up a new plant in the northern Indian state hill state of Uttaranchal.