Lovable Lingerie net profit slides 82.51 percent

Lovable Lingerie’s net profit has declined 82.51 percent to Rs 0.53 crore in the quarter ended March 2014 as against

Rs 3.03 crore during the quarter ended March 2013. Sales increased 7.65 percent to Rs 21.96 crores during the quarter as against Rs 20.40 crores in the same quarter previous year. For the full year ended March 2014, net profit rose 12.02 percent to Rs 21.16 crores as against Rs 18.89 crores during the previous year. Sales too rose 5.22 percent to Rs 158.97 crores during the fiscal.

In February, this year private equity arm, Nalanda Capital had increased its stake in Lovable Lingerie from 5.06 percent to 8.79 percent by acquiring 1,476,812 shares. Incorporated in 1987, Lovable Lingerie is one of India’s leading women’s innerwear manufacturers, producing brassieres, panties, slips/camisoles, homewear, shapewear, foundation garments and sleepwear products. In December 2000, the company acquired the brand ‘Lovable’ from Lovable World Trading Company, USA for the territories of India, Nepal, Sikkim and Bhutan.

As a part of its growth strategy, it acquired Daisy Dee from Maxwell Industries, to cater to the mid segment in India and College Style from Levitus Trading, Hong Kong to cater to the younger segment. The company has in the past marketed the Vanity Fair brand of women’s innerwear garments.