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Kolkata-based Eastern Silk Industries (Q, N,C,F)* (ESIL), an exporter of textile goods, reported 30.89% growth in net profit to Rs 211.8 million for the quarter ended Sep. 30, 2007, from Rs 161.8 million in the corresponding quarter last fiscal.

Net sales was Rs 1,512.3 million in the quarter ended Sep. 30, 2007, as against Rs 1,166.3 million in the same quarter of the year ended Sep. 30, 2006, recording a growth of 29.67%.

The earning per share on Sep. 30, 2007 works out to Rs 13.24 as against Rs 10.25, for Sep. 30, 2006, representing a growth in earnings of 29.17%.

Chairman and managing director of ESIL SS Shah said, ``The results are a reflection of the decisions of the management for sustainability on a long term growth strategy coupled with value addition of the products.``

For the full year ended Mar. 31, 2007 the company reported a net profit of Rs 643.9 million, on net sales of Rs 4,512 million.

ESIL manufactures a wide range of textile products which include silk garments, made-ups, scarves, ties, stoles, belts etc. The company has its clients spread over USA, Canada, EEC, UK, France, Scandinavian, Middle East and EFFTA countries, Japan, Australia and New Zealand. Significantly, the company has successfully moved up the value chain from handloom to high-end products in the shortest possible time.

Shares of the company gained Rs 24.5, or 12.14% to trade at Rs 226.35. The total volume of shares traded was 55,587 at the BSE. (11.41 a.m., Thursday)

Source: Industry Website