The Hindu : Hindalco net up, pays 135 p.c.

Online edition of India's National Newspaper
Thursday, May 01, 2003

Business

Business

Hindalco net up, pays 135 p.c.

Hindalco, the Aditya Birla group's flagship company, has announced a net profit of Rs. 582.10 crores (after providing Rs. 163.30 crores for extraordinary items) during the year ended March 31, 2003 against Rs. 686 crores in the previous year. Extraordinary items consist of a one time loss of Rs. 146.70 crores on selling its entire holding in MRPL to ONGC and Rs. 16.60 crores being the cost of acquisition of the copper business.

The directors have recommended a dividend of Rs. 13.5 per equity share.

Net sales for the year were Rs. 4,975.50 crores (Rs. 2,331.40 crores). The profit, before interest, depreciation and tax, was Rs. 1,447 crores (Rs. 1,204.90 crores). The figures for the year, however, are not comparable due to the inclusion of the copper division's performance.

The company is in the final leg of the Rs. 1,800 crore brownfield expansion at Renukoot.

For the fourth quarter ended March 31, 2003, the net profit was Rs. 19.60 crores (after providing Rs. 163.30 crores for extraordinary items) against Rs. 192.20 crores in the corresponding period of the previous year. The turnover was Rs. 1,321.50 crores against Rs. 647.60 crores despite a weak economic environment and difficult market conditions.

Wockhardt

<167,4.5p,1>Wockhardt has announced a net profit of Rs. 8.50 crores for the first quarter ended March 31, 2003. Sales were down 9 per cent at Rs. 151 crores. Its international business posted a 14 per cent increase at Rs. 63 crores in the period under review.

Export growth was propelled by formulation sales to developed markets of the U.S. and Europe.

Printer friendly page
Send this article to Friends by E-Mail

Business