The Hindu Business Line : K.C.P. Sugar Q4 net dips

K.C.P. Sugar and Industries Corporation Ltd has reported a net profit of Rs 6.04 crore on net sales of Rs 131.74 crore for the fourth quarter ended March 31. During the corresponding quarter in the previous year the company reported a net profit of Rs 14.93 crore on net sales of Rs 99.77 crore. Officials attributed the drop in net profit to higher cost of sugarcane and lower percentage recovery of sugar per tonne of cane as a result of heavy rains during end 2005. K.C.P. Sugar has announced a final dividend of Re 1 an equity share of Re 1 taking the total dividend to Rs 1.50 for 2005-06. The company had subdivided its shares from Rs 10 a share to Re 1 with effect from March 17.

The company has fully repaid its long-term loans and is now debt-free, according to company officials.

For the year ended March 31, the company reported a net profit of Rs 57.53 crore (Rs 41.07 crore) on net sales of Rs 422.60 crore (Rs 322.66 crore). K.C.P. shares closed at Rs 47.35 today.

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