Sunday, Jun 26, 2005
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Special Correspondent
CHENNAI: The India Cements Ltd. (ICL) has returned to the profit zone after three years with a marginal profit before tax of Rs. 4.58 crore for the year ended March 31, 2005 as against a loss of Rs. 112.73 crore in the previous year. With no tax liability during the year under review, the profit after tax was Rs. 4.58 crore as against the loss after tax of Rs. 95.93 crore in the preceding year. Sales and other income during 2004-05 stood at Rs. 1,402.30 crore (Rs. 1,236.88 crore). The profit before interest and depreciation was Rs. 153.45 crore (Rs. 104.80 crore). Interest charges were lower at Rs. 133.50 crore (Rs. 161.68 crore) due to assorted steps taken by the company. Depreciation claimed Rs. 78.77 crore (Rs. 81.50 crore). There was an extraordinary income of Rs. 63.40 crore representing the remission in liability arising out of the repayment of some of the existing debts in excess of interest accrued during the year under review. This has resulted in a net profit of Rs. 4.58 crore. In view of the carry-forward losses, the board of directors has not recommended any dividend for preference and equity shares.
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