April 28: Indian Rayon and Industries Ltd has posted a 20 per cent growth in net profit to Rs 17.79 crore for the fourth quarter ended March 31, 2003 as against Rs 14.81 crore reported in the corresponding previous quarter.
The appreciation of net profit was despite a marginal growth in sales which rose 3 per cent to Rs 335.58 crore (Rs 325.86 crore).
During the year, rayon divisionís revenue was up by 46 per cent to Rs 338.01 crore. However, the previous yearís performance is not comparable because of the strike, the company added.
The garment divisionís revenue was down by 8 per cent to Rs 327.47 crore as against Rs 356.06 crore in the previous year.
Indo Rama net zooms
Announcing its first ever results post demerger, Indo Rama reported a 221 per cent jump in net profit for its combined operations at Rs 132.67 crore for 2002-03 as against Rs 41.28 crore in 2001-02.
Turnover increased 31 per cent to Rs 2,503.09 crore as against Rs 1,909.55 crore in the previous fiscal.
The company would list its demerged entity at the Bombay Stock Exchange in June this year with a Rs 33 crore initial equity.
Godrej net at Rs 54cr
Godrej Consumer Products posted a 28 per cent rise in net profit at Rs 53.56 crore for the year ended March 31, 2003, compared with Rs 41.98 crore in the previous year.
The board has recommended a final dividend of Rs 2 per share (of face value Rs 4 each) for 2002-03, taking the total dividend payout for the year to Rs 8 per share, a GPCL release said here today.
Total sales for the reporting period grew marginally by 2 per cent at Rs 470.08 crore from Rs 458.63 crore in the previous year, the company said.
For the fourth quarter ended March net profit was up 22 per cent to Rs 12 crore (Rs 9.9 crore) while sales declined by 2 per cent to Rs 107.6 crore (Rs 110.3 crore), the release said.
The sales and margins in the fourth quarter of the last financial year were impacted marginally by uncertainty around the implementation of the value-added tax (VAT), it added.
Finolex Cables net
Finolex Cables Ltd recorded a net profit of Rs 24.72 crore on a turnover of Rs 497.78 crore for 2002-03.
Exports rose by 82 per cent to Rs 88.62 crore in 2002-03 compared with Rs 48.78 crore in 2001-02, a release said. The board has recommended a dividend of 30 per cent for 2002-03.