Financial Daily from THE HINDU group of publications
Wednesday, Jul 28, 2004
Financial Daily from THE HINDU group of publications Wednesday, Jul 28, 2004 |
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Corporate Results
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Cement Visaka Industries net up at Rs 2.7 crore Our Bureau
Hyderabad , July 27 VISAKA Industries Ltd (VIL), the manufacturer of asbestos cement products and synthetic blended yarn, has posted a turnover of Rs 54.96 crore and a net profit of Rs 2.79 crore during the first quarter of the current fiscal. The company's board has declared an interim dividend of 10 per cent for 2004-05. According to the un-audited financial results, the company's turnover has increased by 52 per cent and net profit rose by 23 per cent when compared to the turnover of Rs 36.24 crore and a net profit of Rs 2.26 crore registered during the corresponding quarter in the previous year. VIL's Managing Director, Dr. G. Vivekanand, told newspersons here on Tuesday that trial production of the company's spinning division expansion project commenced on Sunday. The commercial production isexpected to commence from the first week of September, one month ahead of schedule. He said that the Rs 32-crore expansion project would increase the installed capacity of the spinning division from 400 tonnes to 600 tonnes per month.
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