Financial Daily from THE HINDU group of publications
Tuesday, Jul 27, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jul 27, 2004 |
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Corporate Results
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Electronics FCI OEN net down at Rs 1.97 crore Our Bureau
Kochi , July 26 THE net profit of FCI OEN Connectors has fallen by 20 per cent to Rs 1.97 crore (Rs 2.46 crore) for the second quarter of the current calendar year. Profit before tax was down marginally by one per cent to Rs 3.25 crore (Rs 3.30 crore). Major contributors for reduction in bottomline were increased depreciation, other expenses and higher tax provisioning, a press release from the company has said. Increase in power cost, travel cost and services charges were the reasons that resulted in a spurt in expenditure. Higher tax on export profit had also resulted in higher tax provisioning. However, the company has reported higher turnover for the second quarter. Total sales of the company grew by 26 per cent to Rs 23.62 crore (Rs 18.80 crore). Sales for the half-year ending June 30 was up by 29 per cent to Rs 46.48 crore (Rs 36.04 crore). Profit before tax increased by 22 per cent to Rs 8.06 crore (Rs 6.63 crore). Net profit for the half year grew by 16 per cent to Rs 5.54 crore (Rs 4.77 crore).
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