The Hindu Business Line : CMC posts loss in Q4, to pay 45 pc

FOLLOWING a net loss posted in the last quarter of fiscal 2004-05, CMC Ltd has suffered a fall in net profit for the fiscal ended March 31, 2005. The board has recommended a dividend of 45 per cent for the year.

According to the unaudited results for the last quarter, the company has posted a loss after tax of Rs 16.72 crore as compared to profit after tax of Rs 20.53 crore recorded in the corresponding quarter of previous fiscal.

In a communique to stock exchanges, the company said the revenue decreased from Rs 218.73 crore in Q4-04 to Rs 215.45 crore for the quarter ended March 31, 2005.

As per the audited financial results for the year, CMC has posted a profit after tax of Rs 23.05 crore for the year as compared to Rs 47.98 crore for the previous fiscal. The company said revenue increased from Rs 763.67 crore in FY-04 to Rs 782.47 crore for the financial year ended March 31, 2005.

In terms of audited results for the year, the group has posted a profit after tax of Rs 24.79 crore for the year as compared to Rs 44.76 crore in the previous fiscal. Revenue has increased from Rs 801.74 crore to Rs 814.21 crore .

The board of directors has recommended for consideration of the shareholders at the ensuing 29th annual general meeting on June 17 payment of dividend at the rate of 45 per cent for the fiscal under review.

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