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Malco announces 80 p.c. dividend

SALEM: The net profit of Malco (Madras Aluminium Company) at Mettur spurted to Rs. 83.13 crore during the year ended June 30, 2006, from Rs. 42.19 crore in the previous year. This record performance has been attributed to rising commodity prices and improved operating efficiency despite an increase in input costs. The net turnover has risen by 23 per cent from Rs. 368.81 crore to Rs. 452.57 crore. Cash profit has increased from Rs. 80.31 crore to Rs. 154.36 crore. The board has declared a dividend of 80 per cent for the year under review.

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