Jul 21, 2000|
Blow Plast net profit down by 5%
Blow Plast Limited, the makers of VIP brand of breifcases, has posted a 7% drop in their sales volume from Rs 804 m in FY99 to Rs 749 m in FY00. Inspite of 5% drop in expenditure, the operating margins were down by 1.7% compared to the respective quarter of the previous year.
However, a sharp rise other income prevented the bottomline from a sharp fall. Other adjustments here include the payment to employees under the voluntary retirement scheme.
|Operating Profit (EBDIT)
|Operating Profit Margin (%)
|Profit before Tax
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|No. of Shares (eoy) (m)
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The company has increased its "VIP Lounge" retail chain to 12 and "VIP World" retail chain to 14 outlets. The company has also introduced new ranges in its soft luggage segment.
The share is currently trading at Rs 19.9 at a P/E multiple of 3.3x on annualised first quarter FY01 earnings.
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