Net profit for the luxury brand, Provogue (India) went down by 54.55 per cent for the quarter ending March, 2010. The profits, which were declared on Tuesday, stood at Rs. 3.79 crore.

But despite this, the company managed to see a rise in income. It increased from Rs. 79 crore for the same period last year and ended at Rs. 162.98 crore. This was said by the company in its filing with the BSE.

As for the whole financial year, Provogue (India) saw the net profit go down even further. The net profit of the company stood at Rs 20.98 crore as against the figure of Rs 59.20 crore which it managed last year. This means that the figures went down by as much as 64.56 per cent.

Post the declaration of the results, the board of directors of the company declared a dividend of Rs. 0.20 per equity share. This is on the shares with the face value of Rs. 2 each.

Meanwhile, Provogue (India)'s Prozone Enterprise has planned to come up with three residential projects in cities of Indore, Nagpur and Coimbatore.