Carborundum Universal to pay 70 p.c.

Carborundum Universal will be paying a dividend of 70 per cent for the year ended March 31, 2001 against 60 per cent in the previous year. During the year sales and income from operations rose to Rs. 280.71 crores from Rs. 257.96 crores while there was a marginal increase in the gross profit before depreciation and interest charges to Rs. 56.94 crores from Rs. 55.50 crores in the previous year. Exports registered a rise of 35 per cent to Rs. 25 crores from Rs. 19 crores.

Interest charges were lower at Rs. 11.30 crores (Rs. 14.31 crores) and depreciation Rs. 11.38 crores (Rs.12.21 crores). Extraordinary items included a profit of Rs. 3.46 crores from sale of Visakhapatnam unit while VRS compensation resulted in a debit of Rs. 1.97 crores (Rs. 1.30 crores). Last year there was a profit of Rs. 7.17 crores realised on sale of investments. The profit before tax was Rs. 35.75 crores (Rs. 34.85 crores). After making a provision of Rs. 12.55 crores (Rs. 8.90 crores) towards taxation, the net profit stood at Rs. 23.20 crores (Rs. 25.95 crores).

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Section  : Business
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