Financial Daily from THE HINDU group of publications
Friday, Jan 20, 2006
Financial Daily from THE HINDU group of publications Friday, Jan 20, 2006 |
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Corporate Results
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Petrochemicals IPCL net up 21 pc at Rs 228 cr Our Bureau
Mumbai , Jan 19 IPCL has posted 21 per cent rise in net during the third quarter of the current fiscal to Rs 228 crore from Rs 189 crore in the year-ago period. Profit before tax was Rs 314 crore (Rs 282 crore) but a higher provision for current tax at Rs 119 crore (Rs 35 crore) saw net profit settle at Rs 228 crore. Net turnover increased 11.2 per cent to Rs 2,143 crore (Rs 1,927 crore). The increase came on the back of 15.8 per cent rise in sales volume but there was a 4.6 per cent dip in the selling prices of products. Operating profit went up eight per cent to Rs 424 crore (Rs 394 crore), primarily on account of higher sales and lower employee cost, which went down 21 per cent to Rs 90 crore (Rs 114) due to reduction in workforce. Interest expenditure came down to Rs 10 crore from Rs 16 crore due to reduction in debt. Outstanding debt as on December 31 2005 was Rs 643 crore (Rs 874 crore). On Thursday, the IPCL scrip closed on the BSE at Rs 257.15, up 1.46 per cent from the previous close of Rs 253.45.
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