Financial Daily from THE HINDU group of publications
Friday, Apr 30, 2004
Financial Daily from THE HINDU group of publications Friday, Apr 30, 2004 |
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Corporate Results
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Textiles Rajasthan Spin net at Rs 18.45 cr Our Bureau
NEW DELHI: Rajasthan Spinning & Weaving Mills Ltd (RSWM), a LNJ Bhilwara Group company, has reported a net profit of Rs 18.45 crore on sales of Rs 671.55 crore for the year ended March 31,2004. The company had recorded a net profit of Rs 8.76 crore on sales of Rs 483.37 crore for the year ended March 31,2003. RSWM's operations for the year ended March 31,2004 included the working of the Rishabdev unit, which had been acquired by the company from HEG Ltd with effect from April 1,2003. Accordingly, the financial performance of the company for the two years is not comparable. At the meeting today, the board of directors recommended a dividend of 20 per cent i.e Rs 2.00 per equity share of Rs 10 each. The board also approved the issuance of 20,35,958 equity shares of Rs 10 each at a premium of Rs 33 per share i.e at a price of Rs 43 per share on preferential basis to the promoters, directors and persons acting in concert which includes associates, relatives and friends of such promoters and directors.
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