Wednesday, Nov 05, 2003
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Dabur India has declared an interim dividend of 60 per cent at its board meeting held today. The record date for this purpose has been fixed as November 22. "We are happy to reward the shareholders with this dividend and also issue an additional share (one additional share of Dabur Pharma for every two shares of Dabur India held) as the demerger has now been approved by the Delhi High Court, " said V. C. Burman, Chairman, Dabur India.
The Delhi High Court has approved the scheme of demerger on October 17, that was filed by the company to separate its FMCG and Pharma businesses after it received approvals from its shareholders and creditors in a court-convened meeting in August this year.
"After the High Court approval, we would soon be finalising the record date for the allotment of Dabur Pharma shares to Dabur India shareholders. The new demerged pharma company, Dabur Pharma Limited, would be listed by January 2004, " said P. D. Narang, Group Director, Dabur India.
Dabur India has registered a growth of 27.9 per cent in net profit at Rs. 53.46 crores against Rs. 41.81 crores during the first six months of fiscal 2003-04 while sales increased by 8.8 per cent to Rs. 637.12 crores from Rs. 585.75 crores.
IndusInd Bank's H1 net up
IndusInd Bank has registered a net profit of Rs. 100.87 crores in the first six months ended September 30, 2003 against Rs. 42.86 crores in the corresponding period in the previous year. The operating profit was higher at Rs. 186.57 crores against Rs. 102.64 crores.
According to Bhaskar Ghose, Managing Director, the sustained momentum from its treasury operations, retail focus and the consultation of its NRI had driven the bank's growth. The capital adequacy ratio stood at 17.55 per cent against 15.75 per cent.
Finolex pays interim
Finolex Industries has announced an interim dividend of 10 per cent. The company has achieved a net profit of Rs. 14.42 crores for the quarter ended September 30, 2003 against Rs. 14.01 crores. The turnover has increased to Rs. 223.48 crores from Rs. 189.57 crores.
The company's PVC plant operated at 120 per cent capacity utilisation and contributed 74 per cent to total turnover.
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