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Our Bureau

Bangalore , March 1

AUTO parts major, Motor Industries Company Ltd (MICO) has posted a 17.3 per cent increase in net profit to Rs 60.84 crore for the quarter ended December 31, 2004 while sales rose 16.11 per cent to Rs 590.73 crore during the same period.

For the entire year (2004), net profit rose 59.44 per cent to Rs 374.76 crore on sales of Rs 2,327.91 crore, which grew 22.65 per cent compared with the same period last year.

Total income for the quarter ended December 31, 2004 increased to Rs 639.63 crorecompared with (Rs 541.52 crore)in the same period last year.

Total income for the entire year increased to Rs 2,434.40 crore for the year ended December 31, 2004 (Rs 1,974.91 crore).

Revenues from the auto products, the main business of the company, rose 22.28 per cent to Rs 2,150.61 crore for the period ended December, 2004 while profit from this segment rose 35.6 per cent to Rs 506.86 crore for the same period.

The board has recommended a dividend of Rs 10 per share.

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Mico net profit rises 17.3 pc

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