EID PARRY BEATS THE HEAT WITH 28% RISE IN PAT
Article Abstract:
The net profit of EID Parry (India) Ltd, Chennai, of the Murugappa Group increased by 28 percent to Rs38.58 crore in 1997- 98. Net sales increased by 20 percent and gross profit by 46 percent. The board has declared a final dividend of 35 percent and interim dividend of 15 percent for 1997-98 (40 percent dividend in 1996-97). The improved performance is attributed to increase in capacity utilisation. The company has commissioned a sanitary ware unit at Alwar, a co-generation project and a neem based pesticide project. Production and offtake of Paramfos and single superphosphate fertiliser and technical grade pesticides has increased. Its two sugar factories registered higher recovery. (rk) ------------------------------------------------------------ Financial Performance of EID Parry (India) Ltd (Rs in crore) ------------------------------------------------------------ Particulars 1997-98 1996-97 ------------------------------------------------------------ Net sales 913.03 761.03 ------------------------------------------------------------ Interest charges 37.80 22.74 ------------------------------------------------------------ Gross profit 73.83 76.63 ------------------------------------------------------------ Depreciation 30.85 19.31 ------------------------------------------------------------ Provision for tax 4.40 4.50 ------------------------------------------------------------ Net profit 38.58 30.08 ------------------------------------------------------------ Equity 17.81 17.81 ------------------------------------------------------------ Surplus and reserves 319.46 290.00 ------------------------------------------------------------ Earnings per share (Rs) 20.37 15.50 ------------------------------------------------------------
Comment:
Posts 28% increase in net profit to Rs38.58 crore in 1997-98 vs net profit of Rs30.08 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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MFL INCURS NET LOSS OF Rs60 CR
Article Abstract:
Madras Fertilizers Ltd has posted a net loss of Rs60.76 crore for 1997-98 (a net profit of Rs12.10 crore for 1996-97). The company has posted a gross loss of Rs51.37 crore (a gross profit of Rs19.12 crore). Turnover was Rs548.72 crore (Rs665.56 crore). Interest costs were Rs69.19 crore (Rs40.47 crore). Depreciation was Rs9.39 crore (Rs6.02 crore). The company has attributed its poor performance to decrease in the output due to closure of its urea and ammonia plants for a period of 6 months, while its NPK plants operated at a lower capacity. (gs)
Comment:
Posts net loss of Rs60.76 crore for 1997-98 vs a net profit of Rs12.10 crore for 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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RALLIS POSTS Rs16-Cr NET
Article Abstract:
Rallis India Ltd (RIL), a fertiliser producer, has posted a net profit of Rs16.30 crore during April-September 1998 (Rs17.37 crore during April-September 1997). During this period, it posted a sales of Rs643.49 crore (Rs614.44 crore) and a total expenditure of Rs597.50 crore (Rs570.93 crore). RIL also posted a rise in its interest cost to Rs24.39 crore (Rs16.98 crore), due to non-disbursement of the subsidy by the government of India. (ag)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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