Lovable Lingerie Q1 profit increases to Rs 13.03 cr

Lovable Lingerie in its financial results for the period

ended June 30, 2013 reported net sales/income from operations of Rs 55.68 crores against Rs 52.76 crores for the quarter ended June 30, 2012.

The net profit/loss was at Rs 13.03 crores for the quarter as against Rs 7.51 crores for same quarter last year in June. The company has reported an EPS of Rs 7.76 for the quarter as compared to Rs 4.48 for the quarter ended June 30, 2012.

It may be recalled that Singapore-based private equity firm Nalanda Capital recently picked up more than five per cent or about Rs 23-25 crores worth stake in the company. In March 2011, Lovable Lingerie raised Rs 93 crores from the public issue at the upper end of the price band of Rs 195-Rs 205 each. In a pre-IPO investment, Sequoia Capital infused Rs 20 crores and later picked up shares from the market, thus increasing its holding to 11.27 per cent in the company.