Archies Q4 net jumps 63%

Toys and gift items retailer Archies today posted 63.41% increase in its net profit for the quarter ended March 31, 2011 at Rs 2.01 crore, compared to Rs 1.23 crore in the same period of the previous fiscal.

The company's net sales during the three-month period ended March 31, 2011 grew 20.74% at Rs 53.15 crore, as against Rs 44.02 crore in the quarter ended March 31, 2010, it said in a filing to the Bombay Stock exchange (BSE).

For 2010-11, Archies posted 22.95% growth in net profit at Rs 10.82 crore, compared to Rs 8.80 crore in the previous financial year.

The company's net sales for 12 months ended March 31, 2011 grew 20.39% at Rs 188.07 crore, compared to Rs 156.21 crore in 2009-10.

The board of the company at its meeting held on May 25, recommended a final dividend of Rs 0.40 per equity share (face value of Rs 2 each) for 2010-11 subject to approval of its members.

The company's scrips closed at Rs 43.30 per share, down 4.94% from the previous close on the BSE.