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Madras Cements profit up

Madras Cements has reported higher turnover and profits in the half year ended September 30, 2003. Net sales were higher at Rs. 353.10 crores against Rs. 319.89 crores. The operating profit has risen to Rs. 91.54 crores from Rs. 75.41 crores. Interest charges have declined to Rs. 27.76 crores (Rs.33.58 crores).

After providing for depreciation of Rs. 32.17 crores (Rs. 32.09 crores), the profit before tax is higher at Rs. 31.61 crores against Rs. 9.74 crores. The profit after tax has increased sharply to Rs. 18.90 crores from Rs. 5.71 crores. The company will be sub-dividing its equity shares of Rs. 100 each into 10 shares of Rs. 10 each with effect from November 14, says a release.

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