The Hindu Business Line : DCM Shriram net up 64 pc in fourth quarter

DCM Shriram Consolidated Ltd (DSCL) has reported a 64 per cent jump in net profits during the fourth quarter of 2004-05 at Rs 39.44 crore, as compared to Rs 24.1 crore earned in the corresponding period of the previous fiscal.

The company's net revenues were higher by 59 per cent at Rs 461.35 crore during the period , a company release said.

The company's operating profits increased by 17 per cent to Rs 59.33 crore during the last three months of 2004-05, the release said.

DSCL's net profit was up 36 per cent at Rs 104.43 crore during the financial year 2004-05, as compared to the previous fiscal. Revenues increased by 29.4 per cent to Rs 1,800 crore during 2004-05, as compared to Rs 1,391.23 crore during the previous fiscal, the release added.

The results for 2004-05 are, however, not strictly comparable to the previous year as it includes performance of Shriram Polytech Ltd, which was merged with DSCL on October 1, 2004.

The company's earnings during the year under review were driven primarily by healthy growth in the plastics, chemicals and sugar businesses, the release said. The company's board has recommended a final dividend of 80 per cent for the year, including an interim dividend of 25 per cent announced in October 2004, which will amount to a total payout of Rs 15.14 crore (including dividend tax).

"The higher dividend declaration this year is in line with the company's intent of sharing its growth performance with shareholders, while also retaining funds for its growth plans," the release said.

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DCM Shriram net up 64 pc in fourth quarter