The Hindu : Business : Finolex Industries net doubles

Online edition of India's National Newspaper
Tuesday, Jul 20, 2004

Business

Business

Finolex Industries net doubles

Finolex Industries has registered a 136 per cent rise in net profit at Rs. 27.33 crores for the first quarter ended June 30, 2004 against Rs. 11.56 crores in the same period in the previous fiscal.

The total turnover rose by 30 per cent to Rs. 279.11 crores from Rs. 214.32 crores, according to a release.

According to Prakash Chhabria, Managing Director, the buoyancy in demand for PVC pipes both for irrigation and construction continued unabated.

The company's planned strategy to expand its distribution network across the country had started paying dividends. FIL is expanding the production capacity of pipes to 65,000 tonnes annually at its Ratnagiri plant in Maharashtra.

Colgate-Palmolive

Colgate-Palmolive India reported a 7 per cent increase in net sales to Rs. 242.70 crores in the first quarter ended June 30, 2004 while the net profit grew 23 per cent to Rs. 25.40 crores.

The aggressive price cuts implemented in toothpaste category combined with ongoing investments in brand building have resulted in double digit unit volume growth in the quarter, according to a company release. The directors have declared a first interim dividend for 2004-05 of 15 per cent. A total dividend of 60 per cent was paid in the previous financial year.

Shasun Chemicals

Shasun Chemicals has reported a turnover of Rs. 68.36 crores in the quarter ended June 30, 2004 against Rs. 59.27 crores.

The profit before interest and depreciation has increased to Rs. 11.15 crores from Rs. 10 crores.

The net profit stood higher at Rs. 3.92 crores against Rs. 3.10 crores, after providing Rs. 66 lakhs (Rs. 1.87 crores) towards interest charges, Rs. 4.79 crores (Rs. 4.13 crores) towards depreciation and Rs. 1.78 crores (Rs. 90 lakhs) for taxation.

Shanthi Gears

Shanthi Gears has achieved a net profit of Rs. 3.96 crores for the quarter ended June 30, 2004 against Rs. 1.63 crores in the corresponding period in the previous year.

Gross sales have risen to Rs. 29.10 crores from Rs. 17.83 crores and net sales to Rs. 25.55 crores from Rs. 15.68 crores.

The profit before tax was higher at Rs. 5.57 crores against Rs. 2.51 crores, after providing interest charges of Rs. 36.02 lakhs (Rs. 9.54 lakhs), depreciation of Rs. 2.35 crores (Rs. 1.70 crores) and taxation of Rs. 1.55 crores (Rs. 88 lakhs).

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