The Hindu : 1:2 bonus from Asian Paints

Online edition of India's National Newspaper
Thursday, May 29, 2003

Business

Business

1:2 bonus from Asian Paints

By Our Corporate Reporter

CHENNAI MAY 28. Asian Paints has recommended a bonus issue in the ratio of one share for every two equity shares held.

The company has posted a net profit of Rs. 28.20 crores for the quarter ended March 31, 2003 against Rs. 30.57 crores in the same period in the previous year. Total income has increased to Rs. 361.93 crores from Rs. 344.62 crores.

The net profit for the year ended March 31, 2003 was higher at Rs. 142.01 crores against Rs. 114.31 crores in the previous year. Total income has increased to Rs. 1,587.99 crores from Rs. 1411.23 crores.

On a consolidated basis, the group has posted a net profit of Rs. 139.90 crores in the year ended March 31, 2003 against Rs. 106.18 crores. Total income has increased to Rs. 1,739.28 crores from Rs. 1,477.65 crores.

The board has recommended a final dividend of 65 per cent, making with the interim of 45 per cent, a total of 110 per cent for the year ended March 31, 2003. Last year the total dividend was 90 per cent. The last bonus issue was in the proportion of three shares for every five equity shares held in 2000.

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