Financial Daily from THE HINDU group of publications
Friday, May 20, 2005
Financial Daily from THE HINDU group of publications Friday, May 20, 2005 |
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Corporate Results
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Silk Himatsingka net down 8 pc Our Bureau
BANGALORE: Himatsingka Seide has reported an 8 per cent drop in its net profit while its revenues grew by 2 per cent for the year-ended March 31, 2005, over the previous year. The Himatsingka reported a net profit of was at Rs 46.4 crore on revenues of Rs 137.9 crore for fiscal 2005 as compared to a net of Rs 50.5 crore on revenues of Rs 135.5 crore in fiscal 2004. The board of Himatsingka has recommended a final dividend of Rs 5 per share. Fabrics, the company's core business, accounted for 87 per cent of the total sales whereas the yarn accounted for the rest. Revenues from fabrics were up 8 per cent to Rs 119.8 crore. However, the yarn external sales were lower at Rs 18 crore as compared to Rs 24 crore in the previous year. Himatsingka maintained the operating margins at 40.5 per cent despite rupee appreciation and a 12 per cent increase in the raw material prices.
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