MRT’s 2007-08 net profit up by 81.39%

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Ahmedabad based, Mahalaxmi Rubtech Limited (MRT) (BSE Code: 514450), active in the manufacture and export of fabrics, seals and rubber parts recorded impressive annual results. The company has reported a net profit at Rs 1.56 crore for the year ended 31^st March 2008 as compared to Rs 0.86 crore during the fiscal year 2006-07.

 

MRT's net profit increased by 81.39 per cent to Rs 1.56 crore for the 12 months ended March 31^st, 2008 as compared to Rs 0.86 crore during the year ended March 31^st, 2007. On a paid up capital of Rs 5.17 crore, the earnings per share works out to Rs 3.00 as compared to Rs 2.08 last year on a paid up capital of Rs. 4.14 crore.

 

The company has declared a dividend at 5 per cent (Rs 0.50 per share) for the financial year 2007-08.

 

Commenting on the performance of the company, Mr. Rahul Parekh, Managing Director, MRT, said, "The current result justifies the efforts initiated and promises a healthy trend for the future.The company believes that the outlook for 2008-09 will be robust. The company plans to grow organically as well as vertically"

 

Quarterly comparison

During the 4^th quarter ended 31^st March 2008, the company has achieved net sales of Rs 5.06 crore as against net sales of Rs 2.42 crore during the previous corresponding quarter ended 31st March 2007. MRT's net profit increased by 381.82 per cent to Rs 0.53 crore for the 4^th quarter ended March 31^st, 2008 as against net profit of Rs 0.11 crore during the previous corresponding quarter ended 31st March 2007.

 

Mahalaxmi Fabric Mills Limited, a sister concern of MRT was recently amalgamated with the company. The amalgamation has been filed for approval with the Gujarat High court.

 

Sourced From: Prana Public Relations