Mumbai: Bhartiya International Limited, India’s leading fashion and lifestyle house, announced 58.33% increase in its Net sales to Rs 67.85 crore for the quarter ended June 2013 compared to Rs. 42.85 crore of the corresponding quarter of last year.
Net profit rose 25.58% to Rs 2.12 crore for Q1FY14 compared to Rs. 1.69 crore in the corresponding quarter of FY13. Operating profit (EBITDA) was at Rs 5.07 crore as against Rs 4.08 crore during the same period.
Earnings per share for the quarter stood at Rs 1.92. The company reported 68.12% growth from its leather products at Rs. 60.57 crore and textile segment grew at Rs. 7.28 crore, up 6.69% as compared to Q1FY13.
Commenting on the company’s performance, Snehdeep Aggarwal, Founder and Chairman, Bhartiya International Ltd said, “We are extremely happy with our growth trajectory. In our fashion business, our endeavor is to explore the domestic market for accessories by partnering with leading brands like Fastrack, United Colors of Benetton (UCB India) , Lee, Wrangler, Levis, FCUK besides our existing partnerships with leading foreign brands in Europe and North America.
On the realty front, the recent launch of the Release III of Nikoo homes and the exclusive residential release by invitation of the New York style apartments has been greeted with initial success with around 1600 apartments sold till date. We assure all stakeholders of keeping up this momentum and meeting their expectations in the coming quarters too.”
ABOUT BHARTIYA INTERNATIONAL LIMITED (BIL)
Bhartiya International Ltd (BIL), the flagship company of the Bhartiya Group, is India’s leading fashion house with 3 lines of business- leather garments, leather accessories and textiles. The company listed on BSE and NSE, is the largest player in leather garment for the last 15 years and added two new lines of business in the last few years i.e. leather accessories and textile. Bhartiya derives the majority of its revenues from exports to European countries. Its constant focus on quality and design has resulted in a strong client base in Europe and it is the only vendor in Asia for some of the major global brands. The company supplies its products to more than 60 global brands like Hugo Boss, Zara, Levis, Mango, Guess, Wrangler, All Saints ,Tommy Hilfiger , S Oliver, Napapijri ,Wrangler ,Timberland , Riverisland ,French Connection , M&S, Esprit , Benetton and Burton . It has its design studio in Milan. On its new growth trajectory, the company has ventured into real estate through Bhartiya Urban Infrastructure & Land Development Company Limited in which Bhartiya International has 30% stake. It is in the process of developing an integrated city in north Bengaluru; the 122-acre (17.2 mn sq ft built-up area) city includes residential, retail, hospitality and IT SEZ projects. The company is in possession of the land and has obtained necessary approvals for the project. Since the launch in November 2012, Bhartiya has sold around 1600 apartments.