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KOCHI: FCI OEN Connectors net profit has grown by 15 per cent to touch Rs 11.7 crore during 2003, as against Rs 10.2 crore recorded for the previous year.

Gross profit grew by six per cent to Rs 15.9 crore (Rs 15.1 crore). .

Net sales increased to Rs 76.3 crore (Rs 75.2 crore) , a press release issued by the company said.

Domestic sales declined by 24 per cent to Rs 44.5 crore (Rs 58.5 crore) while exports by the company grew handsomely by 94 per cent to touch Rs 31.6 crore (Rs 16.3 crore).

Export sales contributed 40 per cent of the company's total sales during 2003, as against 20 per cent in the previous year. During the year, the company invested Rs 17.1 crore for capacity enhancements and new products.

The board has recommended a dividend of 22.5 per cent, up from 20 per cent declared last year.

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