Financial Daily from THE HINDU group of publications
Tuesday, May 18, 2004
Financial Daily from THE HINDU group of publications Tuesday, May 18, 2004 |
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Corporate Results
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Abrasives Carborundum Universal net down 13.24 pc Our Bureau
Chennai , May 17 CARBORUNDUM Universal today announced a profit after tax of Rs 31.71 crore for the financial year 2003-04, a fall of 13.24 per cent compared to the previous year's profit of Rs 36.55 crore. A company press release said an extraordinary expense of Rs 6 crore on account of a voluntary retirement scheme caused the drop in profit. For 2003-04, the company declared a dividend of 125 per cent on equity shares with a face value of Rs 10. Carborundum's total sales for 2003-04 were Rs 314 crore, up by 10.56 per cent in relation to the previous year's sales of Rs 284 crore. For the quarter ended March 2004, the company's sales were Rs 92.78 crore (Rs 77.29 crore), and profit after tax was Rs 15.16 crore (Rs 5.88 crore). The company's board has recommended splitting each equity share into five shares with a face value of Rs 2 for each share. The press release said the decision was taken to improve stock market liquidity in the company's shares.
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