Solar Industries Q2 net up 14% to Rs 54.98 cr
- PTI
- October 30, 2018
Mumbai: Industrial explosives maker Solar Industries India Monday posted a 13.98 per cent increase in consolidated net profit at Rs 54.98 crore for September quarter, against Rs 48.25 crore in the year-ago period.
Its total sales increased 27.44 per cent to Rs 524.62 crore, from Rs 411.65 crore last year.
"The results shows that the group is making steady progress and is well positioned to deliver targeted earnings growth," company's managing director Manish Nuwal said.
During the quarter, its defence business recorded sales of Rs 44 crore, compared with Rs 8 crore in Q2FY18. The defence order book stood at Rs 471 crore, against Rs 246 crore during the previous quarter.
********************* Duroflex raises Rs 160 crore from Lighthouse Funds *
Mattress company Duroflex Monday said it has raised Rs 160 crore (USD 22 million) from consumer-focused private equity fund Lighthouse Fund.
It plans to use the money to fund its expansion plans and add over 500 exclusive business outlets in the near future, the company said in a release.
ICICI Securities acted as the sole financial advisor to the company for the fund raise.
The company has five manufacturing facilities located in Tamil Nadu, Telangana and Kerala which manufacture a wide range of mattresses and PU foam products.
********************* VFS Global inks visa service contracts with 6 European nations *
VFS Global Monday said it has won contracts to provide additional visa services for eight countries including Belgium, Estonia, Germany, Hungary, Italy, Lithuania, Slovenia, and The Czech Republic.
The company plans to open an additional 97 visa application centres to meet the requirements of the new contracts, a release said.
In India, VFS Global strengthens relationship with governments of Hungary and Estonia, which it serves in 16 cities in the country.
The rollout of all new operations is expected to be completed by mid-2019, the release said.
********************* Kalyan Jewellers to open flagship store in Mumbai on Nov 3 *
Kalyan Jewellers Monday said it will open its flagship store in Mumbai on November 3, with an investment of Rs 100 crore.
Kalyan is also planning to open another showroom in Siliguri, West Bengal, on the same day.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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