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Pune April 14 Finolex Industries Ltd, manufacturer of PVC pipes and fittings, has clocked an annual turnover of Rs 1,253 crore and reported a net profit of Rs 70 crore for the year ended March 31, 2007, compared with Rs 901 crore and Rs 42 crore, respectively in the previous year.

The board of directors has recommended a dividend of 30 per cent (Rs 3 per share] for the year ended March 31, 2007. Earnings per share stood at Rs 5.63.

Commenting on the financial performance, Mr Saurabh S. Dhanorker, Assistant Managing Director, noted that the net profit for the fourth quarter was Rs 17.45 crore compared with Rs 15.37 crore during the same period in the previous year.

Mr Dhanorker said Finolex Industries has expanded its PVC pipes capacity from 67,000 mt in the previous year to 74,000 mt during 2006-07.

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Finolex Ind Q4 net at Rs 17.45 cr

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