Liberty Shoes' net profit up 144%

Haryana-based footwear manufacturer Liberty Shoes today reported a massive 144 per cent jump in net profit for the quarter ended June 30, 2005.

The company also decided to issue one bonus share for every share held.

The company, which has also forayed into organised retailing through a subsidiary, reported a turnover of Rs 52.64 for the April-June 2005 period, registering a growth of 10.54 per cent, against Rs 47.62 in the corresponding period of the previous year.

Liberty Shoes said the issue of bonus shares would increase the company's share capital from Rs 5.07 crore to Rs 10.14 crore.

"The issuance of bonus shares were not only a well-deserved reward to the existing shareholders for their continuous support and faith in the company but also a proof of the company's commitment to creating sound shareholder values in the Indian capital market," Liberty Shoes Executive Director Adarsh Gupta said.

The price-to-earnings (p/e) ratio for the company's stock during the financial year 2004-05 was 7.9 and its earnings-per share (eps) was 19.3.

The company's share opened at Rs 237 at the Bombay Stock Exchange and was trading at Rs 245.90 in late afternoon trade.