Wednesday, May 25, 2005
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CHENNAI: Bharat Forge has achieved a sharp rise in its total income to Rs. 1,226.46 crore in the year ended March 31, 2005 from Rs. 851.14 crore in the previous year. The net profit before depreciation and interest charges has risen to Rs. 334.86 crore from Rs. 259.29 crore and the net profit after tax to Rs. 161.63 crore from Rs. 124.90 crore. Net earnings per share work out to Rs. 39.64 against Rs. 32.02 in the previous year. The directors have recommended a dividend of 125 per cent (Rs. 12.50 per equity share of Rs. 10 each). In 2003-04 the company paid a dividend of 100 per cent. The company's forging and machining capacity expansion programme is under implementation. It has incurred an expenditure of Rs. 266 crore up to March 31, 2005, out of the total project cost of Rs. 350 crore. The members of the company have already approved the subdivision of equity shares Rs. 10 each into five equity shares of Rs. 2 each.
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