The Hindu : Raymond pays 45 p.c.

Online edition of India's National Newspaper
Saturday, Apr 27, 2002

Business

Business

Raymond pays 45 p.c.

Raymond has announced a net profit of Rs. 81.13 crores for the year ended March 31, 2002 against Rs. 332.22 crores in the previous year.

The previous year's figure include exceptional income on account of net gain on sale of steel and cement divisions and other adjustments amounting to Rs. 339.17 crores. The board of the company has recommended a dividend of 45 per cent (30 per cent).

The gross turnover of the company was lower at Rs. 980.74 crores (Rs. 1477.29 crores).

Other income was at Rs. 56.96 crores (Rs. 15.73 crores). The profit before interest, depreciation and tax was at Rs. 188.08 crores (Rs. 185.34 crores).

The company provided Rs. 25.22 crores (Rs. 79.91 crores) for interest, Rs. 52.61 crores (Rs. 81.38 crores) for depreciation and Rs. 26.97 crores (Rs. 31 crores) for tax (including deferred tax).

During the year, the denim division showed a growth of 15.9 per cent in sales.

Glaxo SmithKline

Glaxo SmithKline Pharmaceuticals (GSK) has announced a net profit of Rs. 22.79 crores for the first quarter ended March 31, 2002 against Rs. 15.28 crores in the corresponding period of the previous year.

Net sales was at Rs. 284.32 crores (Rs. 259.57 crores).

The company provided Rs. 2.38 crores (Rs. 2.28 crores) for interest, Rs. 4.74 crores (Rs. 4.82 crores) for depreciation, Rs. 14.12 crores (Rs. 9.44 crores) for current tax and Rs. 0.15 crores (nil) for deferred tax.

Exceptional items (net of tax) were at Rs. 3.02 crores (nil) and relate to costs of staff separation and retirement benefits.

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