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Vishal Retail H1 net up 22 pc at Rs 18 cr

This article was posted on Oct 30, 2008 and is filed under Stock News

MUMBAI: Vishal Retail has posted a 22 per cent increase in its net profit at Rs 18.08 crore for the six months ended September 30. The company had a net profit of Rs 14.72 crore in the corresponding quarter a year ago, the city-based firm said in a filing to the Bombay Stock Exchange.

Total income rose by two-fold at Rs 739.18 crore during the six-month period, from Rs 367.78 crore last year.

Meanwhile, Vishal Retail has reported a net profit of Rs 4.07 crore, and total income of Rs 360.75 crore for the second quarter of this financial year.

The company is planning to give big push to small format stores and plans to set up 2,000 such outlets across the country by 2009-10. Vishal Retail is expecting a turnover of around Rs 180-200 crore from the new small format stores this fiscal, Vishal Retail Group President Ambeek Khemka had said.

Shares of the company closed at Rs 104.15, down 7.09 per cent on the BSE on Wednesday.

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