Date:18/05/2006 URL: http://www.thehindubusinessline.com/2006/05/18/stories/2006051802900200.htm

Back IBP posts 135 pc rise in Q4 net

Our Bureau

New Delhi , May 17

IBP Company Ltd has posted 135.52 per cent increase in net profit at Rs 533.27 crore for the quarter ended March 2006, compared to Rs 226.42 crore for the same period last year. The company declared its unaudited results on Wednesday.

Total income grew to Rs 4,563.66 crore (Rs 3,774.17 crore). Net profit stood at Rs 12.44 crore (Rs 58.87 crore), while total income stood at Rs 15,818 crore (Rs 13,663.90 crore).

IBP has informed the BSE that its board has recommended a dividend of 20 per cent (Rs 2 per share on share of Rs 10 each) on the equity share capital for 2005-06.

The company also said that pursuant to the approval accorded by the board and the Government to the scheme of amalgamation for merger of the company with IOC and recommending a swap ratio of 110 equity shares of IOC for every 100 equity shares of IBP, the Ministry of Company Affairs has convened a meeting of the shareholders of the company on June 16.