IPCL announces FY 2006 profit of Rs.1164 Crores

Indian Petrochemicals Corporation Ltd (IPCL) has announced the following Audited results for the year ended March 31, 2006:

The Company has posted a net profit of Rs 11640 million for the year ended March 31, 2006 where as the same was at Rs 7860 million for the year ended March 31, 2005. Total Income is Rs 110690 million for the year ended March 31, 2006 where as the same was at Rs 83310 million for the year ended March 31, 2005.

Further the Company has informed that, the Board of Directors of the Company has considered the interim dividend of Rs 5.50 per share paid as the final dividend for the year ended March 31, 2006.

The financial results include performance of the six transferor Companies viz. Appollo Fibres Ltd (AFL), Central India Polyesters Ltd (CIPL), India Polyfibres Ltd (IPL), Orissa Polyfibres Ltd (OPL), Recron Synthetics Ltd (RSL) and Silvassa Industries Pvt Ltd (SIPL) merged with the Company pursuant to the Scheme of Amalgamation sanctioned by the Hon’ble High Court of Judicature of Gujarat at Ahmedabad. The Scheme has become effective from September 27, 2006 and the Appointed Date is April 01, 2005.

Source : Equity Bulls

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