Financial Daily from THE HINDU group of publications
Saturday, Jan 17, 2004
Financial Daily from THE HINDU group of publications Saturday, Jan 17, 2004 |
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Corporate
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Financial Performance Finolex Ind net doubles to Rs 28.4 cr Our Bureau
Pune , Jan.16 FINOLEX Industries Ltd (FIL) has doubled its net profit for the quarter ended December 2003 as compared to the quarter ended December 2002. According to an official release from the company, the net profit stood at Rs 28.4 crore as compared to Rs 12.86 crore for the quarter ended December 2002, an increase of 121 per cent. The turnover during the quarter ended December 2003 has increased by 18 per cent to touch Rs 266.64 crore (Rs 226.28 crore). It noted that the net profit for the quarter ended December 2003 had been good due to better sales realisation with substantial increase in margins. While the prices of raw material in international markets remained subdued, the prices of PVC in international markets firmed up during the quarter ended December 31, 2003. Earnings per share (EPS) for the quarter ended December 31, 2003 stood at Rs 2.29 (Re.1.00) and cash earnings per share (CEPS) was Rs 3.16 (Rs 1.82). FIL has already disbursed an interim dividend of Re 1 per share for the current year.
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