Financial Daily from THE HINDU group of publications
Wednesday, Apr 28, 2004
Financial Daily from THE HINDU group of publications Wednesday, Apr 28, 2004 |
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Corporate Results
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Textiles Visaka turnover up 18 pc, to pay Rs 2.50 Our Bureau
Hyderabad , April 27 THE board of directors of Visaka Industries Ltd has recommended a dividend of Rs 2.50 per equity share of Rs 10 each for the year 2003-04. The company has posted a turnover of Rs 160.30 crore and a net profit of Rs 10.14 crore for the year. Its earnings per share stood at Rs 9.18. The turnover increased by 18.4 per cent and net profit rose by 12.5 per cent when compared with the turnover of Rs 135.37 crore and a profit after tax of Rs 9.01 crore registered during 2002-03. The company has provided Rs 6.35 crore towards interest charges, Rs 6.32 crore for depreciation and 6.04 crore for taxation. Out of the total turnover of Rs 160.30 crore last fiscal, VIL's spinning division accounted for Rs 62.78 crore while the remaining Rs 97.52 crore came from its asbestos cement division. VIL's Managing Director, Dr G. Vivekanand, told newspersons here on Tuesday that the Rs 32-crore modernisation-cum-expansion programme of the spinning unit was expected to be completed by October this year.
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