Fulford (India), a Rs.215 crore MNC from Mumbai, has reported lower net sales of Rs.59.69 crore during the third quarter ended September 2013 as compared to Rs.62.85 crore in the corresponding period of last year. However, its net profit moved up by 102 per cent to Rs.4.37 crore from Rs.2.16 crore.crore. EPS worked out to Rs.11.21 as against Rs.5.54 in the last period.

For the first nine months ended September 2013, Fulford's net sales improved by 4.9 per cent to Rs.167.82 crore from Rs.160.03 crore. It posted net profit of Rs.2.16 crore as compared to a net loss of Rs.3.96 crore.

Fulford India Ltd had raised Rs.40.25 crore by issuing 7 lakh equity shares of Rs.10 each at a premium of Rs.565 per share, to its promoters Dashtag during December 2006. The funds were raised to provide capital in order to permit the company to strengthen its position in the market and act on strategic business growth opportunities.

Out of the aforesaid amount, the company had utilised Rs.1.05 crore towards business expansion during the quarter ended September 30, 2013. The total amount utilized till September 30, 2013 is Rs.3.46 crore. The remaining balance amount of Rs.36.79 crore continue to be invested in fixed deposits with banks pending utilisation of the same.