Financial Daily from THE HINDU group of publications
Tuesday, Jun 01, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jun 01, 2004 |
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Corporate Results
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Steel Monnet Ispat Q4 net up at Rs 17.0 cr Our Bureau
New Delhi , May 31 SPONGE iron maker, Monnet Ispat Ltd, has reported a 334 per cent increase in net profit for the fourth quarter ended March 2004. The company has posted a profit of Rs 17.04 crore during the quarter as against Rs 3.93 crore in the corresponding quarter of the previous fiscal, according to a company release. The company declared an interim dividend of 10 per cent taking the total interim dividend to 25 per cent. Turnover of the company for the fourth quarter increased by 50 per cent to Rs 99.87 crore. The company's profits for the full fiscal 2003-04 increased by 129 per cent over the previous year's profits, the release said and added that the improvements were due to better productivity, higher sales realisation in sponge iron and reduction in direct and indirect overheads. According to Mr Sandeep Jajodia, Executive Vice-Chairman and Managing Director of the company, the company's operations after last year's expansions have more or less stabilised.
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