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[January 2010]
Orient Ceramics Posts Half-Year Net Profits Up By Over 50%
OCIL – Orient Ceramics & Industries Ltd (Sikandrabad, Uttar Pradesh, India), the country’s leading tile manufacturing company, has announced financial results for the quarter/half year ended 30 September 2009. OCIL’s Profit After Tax (PAT) grew by 51%, standing at Rs 3.72 crore as compared to Rs 2.47 crore in H1 FY09. For the Q2 FY10 OCIL’s PAT grew by 32% at Rs 2.20 crore as compared to Rs 1.67 crore in Q2 FY09.
The company reported Profit Before Tax (PBT) of Rs 5.66 crore, up 51% over Rs 3.75 crore for H1 FY09. For the Q2 FY10, OCIL’s PBT grew by 26% at Rs 3.35 crore as compared to Rs 2.65 crore in Q2 FY09.The company’s Net Sales for the H1 FY10 stood at Rs 115.43 crore. Earnings Per Share (EPS) for H1 FY10 stood at Rs 3.53 as compared to Rs 2.35 posted in H1 FY09 whereas the EPS for Q2 FY10 stood at Rs 2.09 as compared to Rs 1.59 in Q2 FY09.
Vijay Shankar Sharma, Chief Financial Officer at OCIL, said: “We have continued on our growth path, building on our robust performance in the past fiscal. The sustained growth in this quarter is a reflection of the successful implementation of our new financial and management policies”.
Speaking on the announcement, Madhur Daga, Executive Director at OCIL, said: “We have managed to insulate our business from the slowdown in the real estate industry and grow at an incredible pace”.
OCIL says that with a credo of delivering excellence and promising quality, the company has state-of-the-art, environment-friendly manufacturing facilities. The company has been accredited with ISO 9001:2000, ISO 14001 and ISO 18001 certifications for the quality control management systems. The Orient Tiles clientele comprises individuals, house builders, architects and institutions across the country.
www.orienttiles.com
ENDS