The Hindu Business Line : Alufluoride net down at Rs 1.48 crore

DESPITE an increase in sales turnover for the fiscal ended March 2004, Alufluoride Ltd, the Visakhaptanam-based aluminium fluoride manufacturer, has suffered a fall in net profit.

According to the unaudited financial results announced by the company, it has achieved net sales of Rs 12.42 crore during the fiscal under review compared to Rs 11.07 crore in the previous fiscal, other income of Rs 29.49 lakh (Rs 41.9 lakh) and posted a net profit of Rs 1.48 crore (Rs 1.69 crore). This yields an EPS of Rs 2.12 (Rs 2.42) on an equity base of Rs 7 crore.

The Alufluoride General Manager (Finance), Mr K. Purushotham Naidu, said the company has achieved record production and sales of aluminium fluoride during the fiscal under review with the improved main raw material - hydrofluorosilicic acid - supplies.

During the fourth quarter of the fiscal, the company exchanged the high rate of interest loan of ICICI Bank with low rate of interest loan from the State Bank of Hyderabad, resulting in considerable interest savings to the company, Mr Naidu said.