Aarvee Denims net dips 27.42% in Jun`07 qtr
Result Analysis: Aarvee Denims net dips 27.42% in Jun`07 qtr Aarvee Denims & Exports disclosed steep drop of 27.42% in net profit for the quarter ended June 2007. During the quarter, the profit dipped Rs 30.41 million from Rs 41.90 million, in the corresponding quarter last year. Net sales for the quarter declined 10.06% to Rs 495.95 million, compared with the corresponding quarter, a year ago. Operating margins decreased 13.94% during the quarter, a fall of 497.81 basis points compared with the corresponding quarter last year. Net margins, on the other hand, fell 5.72% from 7.57%, for the period in comparison. Excluding extraordinary income (expense), the net margin is estimated to be at 6.13%. The company`s earnings per share (EPS) on trailing twelve month basis stood at Rs 8.90. At the closing price of Rs 96.35 on Sep. 18, 2007 at the BSE, the company`s shares were valued 10.82 times its earnings on trai ling twelve month basis.
| As at | June 2007(3) | June 2006(3) | %Change |
| Rs million | Rs million | ||
| Sales of Products/Services | 495.95 | 551.40 | (10.06) |
| Other Income | 36.00 | 1.86 | 1835.48 |
| Total Income | 531.95 | 553.26 | (3.85) |
| Total Expenses | 426.83 | 447.10 | (4.53) |
| Stock Adjustments | 0.00 | 0.00 | |
| OPBDIT | 69.12 | 104.30 | (33.73) |
| Operating Margin(%) | 13.94 | 18.91 | (497.81) bp* |
| Interest | 22.23 | 6.86 | 224.05 |
| Depreciation | 54.93 | 36.03 | 52.46 |
| ExtraOrdinary Items | 0.00 | 0.00 | |
| Prior Period Adjustments | 0.00 | 0.00 | |
| Provision for Tax | 2.46 | 21.37 | (88.49) |
| After Tax Profit | 30.41 | 41.90 | (27.42 ) |
| Net Margin(%) | 5.72 | 7.57 | (185.66) bp* |
| EPS in reported Period (Rs) | 1.06 | 1.62 | (34.57) |
| * bp - basis points |
