Net sales for the nine months ended December 2008 increased by 52% to Rs 177.14 crore. OPM of the company inclined by 333 basis points to 20.7% due to overall decrease in expenditure. As a result, the profit before tax before forex has increased by 117% to Rs 26.50 crore.

For quarter ended December 08

The company's net sales for the quarter ended December 2008 increased by 88% to Rs 68.34 crore. OPM of the company increased by 460 basis points to 24.7% due to fall in overall expenditure. There was a decrease in raw material cost by 230 basis points to 49%, staff cost by 219 basis points to 8% and other expenditure by 90 basis points to 18% of adjusted net sales. As a result of it, the operating profit of the company inclined by 131% to Rs 16.86 crore.

Other income of the company declined by 6% to Rs 0.08 crore. The profit before interest, depreciation and tax has increased by 130% to Rs 16.95 crore. Interest paid by the company during the quarter increased by 113% to Rs 2.51 crore while depreciation has increased by 29% to Rs 2.08 crore. As a result, the profit before tax before forex increased by 170% to Rs 12.35 crore.

The company for the quarter had forex loss of Rs 8.48 crore. It includes Rs 6.14 crore representing lower realization on account of hedging of future receivables against which corresponding revenue is recognized under net sales and Rs 2.34 crore notional loss on account of restatement of foreign currency loans and debtors.

As a result, the company's profit before tax after forex loss has decreased by 23% to Rs 3.87 crore. Tax outgo has decreased by 49% to Rs 0.50 crore. The company had shown reported net profit of Rs 3.37 crore, de-growth of 17% due to loss on exchange fluctuation.

For the nine months ended December 08

Net sales for the nine months ended December 2008 increased by 52% to Rs 177.14 crore. OPM of the company inclined by 333 basis points to 20.7% due to overall decrease in expenditure. There was decline in raw material cost by 92 basis points to 53%, other expenditure by 89 basis points to 19% and staff cost by 87 basis points to 8% of adjusted net sales. As a result, the operating profit of the company inclined by 81% to Rs 36.62 crore.

Other income of the company increased by 183% to Rs 0.45 crore leading to an increase of 82% in the PBIDT to Rs 37.07 crore. Interest cost and depreciation has increased by 46% to Rs 5.05 crore and by 18% to Rs 5.52 crore. The profit before tax before forex has increased by 117% to Rs 26.50 crore.

The company for the nine months period had forex loss of Rs 10.58 crore. As a result, the company's profit before tax after forex loss has increased by 20% to Rs 15.92 crore. Total tax outgo has increased by 33% to Rs 3.14 crore. The company had reported net profit of Rs 12.78 crore, a growth of 17%.

The scrip closed at Rs 67.20 at BSE on 21^st January 2009.