Financial Daily from THE HINDU group of publications
Monday, May 17, 2004
Financial Daily from THE HINDU group of publications Monday, May 17, 2004 |
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Corporate Results
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Bearings, Castings & Forgings Nava Bharat Ferro annual net up 84% Our Bureau
Hyderabad , May 16 NAVA Bharat Ferro Alloys Ltd, a ferro alloys, sugar and power major, has recorded a growth of 16.76 per cent in turnover at Rs 498.06 crore for the fiscal ended March 31, 2004 from Rs 426.55 crore in the year-ago period. It has posted an increase 83.81 per cent in net profit at Rs 55.64 crore (Rs 30.27 crore). The company's board, which took on record the audited financial results here on Saturday, has recommended a dividend of 60 per cent (Rs 6 per equity share of Rs 10 each) for the fiscal under review compared to 30 per cent paid in the previous fiscal. For the fiscal under review, the company incurred an expenditure of Rs 397.96 crore (Rs 367.77 crore) and provided Rs 10.98 crore towards finance charges (Rs 14.58 crore), Rs 11.85 crore towards depreciation (Rs 11.31 crore) and Rs 1.09 crore towards extraordinary items, Rs 14.5 crore towards current period taxation (Rs 2.6 crore) and Rs 6.02 crore towards deferred taxation as against no such provision in the previous fiscal.
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