Financial Daily from THE HINDU group of publications
Wednesday, May 18, 2005
Financial Daily from THE HINDU group of publications Wednesday, May 18, 2005 |
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Corporate Results
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Steel Graphite India net dips marginally, to pay 45% dividend Our Bureau
Kolkata , May 17 THE board of directors of Graphite India Ltd has recommended a dividend of Rs 4.50 per equity share of Rs 10 each for the year ended March 31, 2005. The board met here on Monday to approve the audited financial results for 2004-05. According to a press release from the company, Graphite India's sales income from operations stood at Rs 545.97 crore in 2004-05 against Rs 549.30 crore in 2003-04. The net profit in 2004-05 was Rs 48 crore compared with Rs 51.32 crore the previous year. The release said the Rs 160-crore expansion project at the Durgapur plant has been partially commissioned and the project is expected to be operational by July. With the fortunes of the steel sector on the upswing and many players planning capacity expansions, the electrode industry is witnessing strong demand and firm prices. The prospects this fiscal of the company's electrodes division look promising, according to the release.
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