Evinix Accessories Ltd, manufacturers of fashion accessories, reported 249.45 percent jump in its net profit at Rs. 5.36 crore for the second quarter ended September 30, 2007 as compared to Rs. 1.53crore in the corresponding period last year. Net Sales more than doubled rising by 102.32 per cent at Rs 32.22 crore in the second quarter ended September 2007 as compared to Rs. 15.92 crore for the same period last year. The earning per share (basic and diluted of face value of Re 10) for the quarter stood at Rs 5.01 as on September 30, 2007 compared to Rs 2.13 in the corresponding quarter last year.

Even more impressive is the growth achieved by the company over April – June, 2007 quarter, where sales increased by over 50% and net profit shot up by more than 100%.

Meanwhile, the company has reported a 155.74 per cent jump in consolidated net profit at Rs 8.04 crore for the six months ended September 30, 2007 as compared to Rs 3.14 crore in the corresponding quarter previous year. Total consolidated income rose to 76.57 per cent at Rs 53.47 crore as against Rs 30.25.crore during the same period previous year.

Mr. Raujeev Taneja, Managing Director, Evinix Accessories Ltd. said, “While the company’s financial results reflect strong returns on invested capital, our dedication manifests itself in our products. Going forward, the company is in the process of rolling out its next phase of expansion plans.

Evinix has been moving into the world of fashion & lifestyle product supplier at a fast pace in the last three years. Today it is known for its design, technical acumen, quality products and deliveries. The company holds licenses from Gini & Jony and Disney for production and sale of their products in the domestic market. The company is also actively negotiating several other licenses with renowned brands overseas for production and sale under their brands in the domestic market in various formats.

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About Evinix Accessories Ltd (BSE: 532818; NSE: EVINIX)

Evinix Accessories (EVINIX) is in the business of designing and manufacturing fashion accessories and garments for exports as well as domestic markets. Incorporated on May 1, 1996 as a private limited company, it was converted to a public limited company on Feb. 3, 2006.The company offers products in two categories, namely, fashion accessories comprising of caps, hats, sports bags, ladies fashion bags, leather belts, fashion belts, scarves and shawls,. and apparels include kidswear like trousers and tops and women`s wear like tops and dresses and sleep wear. The company also undertakes bulk trading of processed and greig fabric. The major buyer of products in the domestic markets includes Adidas India Marketing, Arvind Brands, V & S International, Haryana, Puma and others. While retaining its earlier customers, company has added new European customers with Euro & British pound contracts. These famous names include Almunia Textil Spain, El Corte Ingles Spain & George UK