Companies

Visaka Industries net trebles

Our Bureau Hyderabad | Updated on October 29, 2012 Published on October 29, 2012

Visaka Industries Ltd has more than tripled its net profits for the quarter ended September 30 at Rs 9 crore compared with Rs 2.16 crore in the corresponding quarter of last year.

The turnover during the quarter under review stood at Rs 19.39 crore against Rs 14.96 crore in the comparative quarter, recording a growth of 30 per cent.

The Hyderabad-based company, which is into asbestos cement, boards and spinning has declared a second interim dividend of Rs 1 (10 per cent) per share of Rs 10 each.

In a press release the company said work on the proposed board’s unit at Pune, which is being set up at a cost of Rs 68 crore is in progress.

Land has been acquired, civil contract awarded and orders for major part of plant and machinery have been placed.

Published on October 29, 2012
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