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Snowcem India net higher at Rs 17.87 cr

MUMBAI: Snowcem India Ltd has registered a 21 per cent increase in net profit at Rs 17.87 crore in the year ended March 31, 2001 against Rs 14.77 crore in the previous year.

Net sales rose to Rs 209.61 crore (Rs 153.89 crore). Other income increased to Rs 56.61 lakh (Rs 26.35 lakh). Total expenditure was up at Rs 185.34 crore (Rs 130.18 crore).

Interest dropped to Rs 4.38 crore (Rs 6 crore) while depreciation increased to Rs 1.82 crore (Rs 1.58 crore). Provision for taxation increased to Rs 75 lakh (Rs 60.62 lakh).

Earnings per share for the year is at Rs 17.01 (Rs 14.21).

For the quarter ended March 31, 2001, the company has posted a net profit of Rs 2.08 crore as against Rs 2.48 crore in the same period the previous year. Net sales have gone up to Rs 83.53 crore (Rs 49.72 crore).

In March 2001, the company acquired 42,500 equity shares of Rs 100 each of Pelican Paints Ltd at a price of Rs 10 per share and 3,50,000 equity shares of Rs 100 each of Killick Halco Ltd at Rs 83 per share making them subsidiaries of the company. _ Our Bureau