P&G Hygiene pays 75 p.c.

Procter and Gamble Hygiene and Healthcare has announced a 75 per cent dividend (Rs. 7.50 per share). The company, in a statement, said the dividend comes close on the heels of its third quarter results registering a 29 per cent increase in net profit over the same period last year and a sales growth of 12 per cent.

``This dividend is being made in anticipation of a consistent growth of the company over the final quarter (April-June 2000) and can be considered as early final payment of dividend to the shareholders for the year ending June 30, 2000,'' it added.

Ciba Specialty Chemicals

Ciba Specialty Chemicals (India) has achieved a net profit of Rs. 18.1 crores for the year ended March 31, 2000 against Rs. 11.9 crores in the previous year. The directors have declared an interim dividend of 45 per cent (30 per cent) and have therefore not recommended any final dividend for the year.

Net sales were higher at Rs. 453 crores against Rs. 308.2 crores. Other income amounted to Rs. 5.5 crores (Rs. 9.5 crores). This includes Rs. 2.2 crores from profit on sale of fixed assets of Chemical Development Department (CDD) consequent to transfer of the CDD business and Rs. 1 crore from profit on sale of long term investment. Total revenue was Rs. 458.5 crores against Rs. 317.7 crores.

Interest charges were Rs. 4.9 crores (Rs. 4.4 crores) and depreciation Rs. 10.9 crores (Rs. 10.5 crores). The company has revised the estimated useful life of certain assets for computing depreciation and this has resulted in an additional depreciation charge of Rs. 1.5 crores for the year. The company provided Rs. 6 crores (Rs. 3.8 crores) for tax.

A new plant for manufacturing 2,000 tonnes annually of phenolic antioxidants at Santa Monica, Goa, was commissioned in February. The company acquired 1.96 million equity shares in its subsidiary Pigment Specialities India Ltd. (PSIL) in December 1999. As a result, PSIL has become a wholly-owned subsidiary.

The company has acquired 11.53 million equity shares amounting to 51 per cent of the paid up capital of Diamond Dye-chem (DDL) on May 1 and consequently, DDL has become a subsidiary. The company's parent company, Ciba Specialty Chemicals Holding Inc. Switzerland, has decided to divest its polymers business on a worldwide basis. The impact of this proposed divestment on the polymers business of the company is being evaluated.

Bluedart

Bluedart, India's largest courier company, has reported a net profit of Rs. 12.31 crores for the fiscal 1999-2000, an increase of 105 per cent over the previous year. The company recorded a total income of Rs. 205.46 crores for the year ended on March 31, 2000, according to a company release.

Bank of Madura

Bank of Madura has achieved a net profit of Rs. 45.58 crores in 1999-2000 against Rs. 30.13 crores in 1998-99.

This has been achieved, after providing Rs. 49.86 crores towards provisions for non-performing assets and contingencies including Rs. 14 crores for income-tax against Rs. 30.78 crores and Rs. 8.58 crores respectively. In addition, the bank has made provisions for arrears in salaries and wages pertaining to earlier years to the extent of Rs. 5.83 crores, based on industrywide agreements, according to a release.

The bank has paid Rs. 2.66 crores towards arrears for pension besides Rs. 1.75 crores paid as pension during the year. In addition, a provision of Rs. 4.95 crores has been made towards the pension fund.

Deposits of the bank have crossed the Rs. 3,600 crore mark and stood at Rs. 3,631 crores. Advances as on March 31, 2000 were Rs. 1,665 crores. The net NPA to advances has come down to 4.7 per cent from 5.7 per cent. The capital adequacy ratio has improved to 15.83 per cent from 14.25 per cent.

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