ICI India announces Q2 net profit of Rs.20.57 Crores, to merge subsidiary Quest International

ICI India Ltd has announced the following Unaudited results for the quarter ended September 30, 2006:

The Company has posted a net profit after taxation of Rs 205.70 million for the quarter ended September 30, 2006 where as the same at Rs 154.40 million for the quarter ended September 30, 2005. Total Income (net of excise) is Rs 2476.90 million for the quarter ended September 30, 2006 where as the same was at Rs 2319.50 million for the September 30, 2005.

The figures for the quarter ended September 30, 2006, are not comparable with those for the corresponding period of the previous year on account of divestment of Rubber Chemicals business in December 2005, and exclusion of Uniqema business results from September 02, 2006. On a comparable basis, during the quarter, sales from continuing businesses were up by 27%, and the corresponding segment profit increased by 53%.

The company board recommended a proposal to merge the Company’s subsidiary Quest International India Ltd with the Company, subject to necessary approvals.

The company Board also approved the shifting of the registered office of the Company to a new premises within Kolkata city subject to completion of necessary formalities.

Source : Equity Bulls

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