Gift items retailer Archies Ltd on Monday posted 51.98 per cent decline in net profit for the second quarter ended September 30, 2011 at Rs 1.57 crore compared to the same quarter last year due to higher expenditure on several items, including raw material.
The company’s net profit for the three months ended September 30, 2010 stood at Rs 3.27 crore, it said in a filing to the BSE.
The company’s net sales for the quarter ended September 30, 2011, increased 10.80 per cent to Rs 48.61 crore, as against Rs 43.87 crore during the corresponding quarter of last fiscal.
Archies Ltd’s shares were trading at Rs 35.85, up 0.42 per cent from the previous close on the BSE.