Provogue FY11 net profit up 25% at Rs 26 cr

Fashion garments maker Provogue today reported a 24.67% jump in consolidated net profit to Rs 26.17 crore for the year ended March 31, 2011.

The company had posted a net profit of Rs 20.99 crore for the year ended March 31, 2010, Provogue said in a filing to the Bombay Stock Exchange.

The company has recommended a dividend of 25 paisa per share of Rs 2 face value, subject to the approval of shareholders.

The company said cash outflow on account of the dividend, including taxes, would be Rs 3.32 crore for the fiscal.

During the fiscal, Provogue's consolidated net sales increased by 39.45% to Rs 661.26 crore from Rs 474.18 crore in the year-ago period.

On a standalone basis, the firm achieved a net profit of Rs 33.40 crore during the year, a 17.81% increase from Rs 28.35 crore in the previous fiscal.

The company's standalone net sales increased by 18.26% to Rs 550.34 crore during the review period from Rs 465.36 crore in the previous year.

Segment-wise, the firm's textile business achieved a revenue of Rs 586.67 crore during the year, compared to Rs 489.76 crore in the previous fiscal.

In addition, the firm said its infrastructure business earned a revenue of Rs 10.08 crore, up from 2.06 crore in the previous fiscal.

Shares of Provogue was being quoted at Rs 36.80 apiece in afternoon trade on the Bombay Stock Exchange today, up 0.82% from their previous close.