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Our Bureau

New Delhi May 2 Kanoria Chemicals and Industries Ltd (KCIL) today reported a net profit of Rs 19.5 crore for fiscal 2006-07, marginally down from Rs 20.25 crore in last fiscal. The company, however, reported a 41 per cent increase in net sales to Rs 430.1 crore (Rs 305.1 crore).

The board declared a dividend payout of 30 per cent which is at last year's level.

According to a company release, the lower net profit is because the company had completed major expansion plans leading to higher costs on interest, depreciation and deferred taxes.

The company has completed its $2 billion expansion plan and increased caustic soda manufacturing facility from 40,000 tonnes per annum to 90,000 tpa and doubled its power generation capacity to 50 MW during the year.

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