Morarjee Textiles net profit up by 24.6%; sales up by 46%

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Morarjee Textiles Limited (MTL), a public listed company with a lineage that spans over a century in India, has announced its financial results for the annual year ended March 30, 2007. The company has registered net profit of Rs 1,226 lakh – an increase of 24.6 per cent as compared to Rs 984 lakh for the corresponding period last year.

Commenting on the Q4 results, Harsh Piramal, executive vice chairman, Morarjee Textiles, said, “The year at Morarjee Textiles Limited has been one of investment and growth. We acquired Men’s Club, a premier, high-end shirting brand in Italy. We have invested in the apparel and fabric businesses through Integra and Just Textiles so that there is increase in value realisation across our business. The year ahead is for consolidation and growth, and we have earmarked Rs 120 crore to be invested in all our businesses. Through strategic investment and a well-developed growth plan, we will go a step closer to our goal of being the global leader in premium fashion, fabric and apparel through innovative product and design development.”

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