GROUP RELATED NEWS
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| Morarjee Textiles to pay 25 pc |
Morarjee Textiles Ltd has recorded a 129 per cent increase in its profit after
tax at Rs 10.45 crore, in the quarter ended March 2006. The company, involved
in the business of fabrics, prints and viols, has also recorded a 57 per cent
increase in PAT during financial year ended march 2006. It has announced a dividend
of 25 per cent (Rs 2.50) per equity share, owing to its performance in the financial
year ended March 2006, an official statement said.
Total revenue for
the quarter was Rs 49.97 crore with an increase of 32.4 per cent over the same
quarter last year. This growth in revenue was due to additional growth in business
from international operations, product mix rationalisation and better realisations,
a press release by the company said.
Profit before tax increased by
103.2 per cent, for the quarter and stood at Rs 3.82 crore. "Textiles is one of
the focus areas for the Group, MTL is looking to expand and grow both through
the organic and inorganic means; in the textiles and the garments businesses,"
a news release said quoting Ms Urvi Piramal, Chairperson, Morarjee Textiles Ltd.
On Thursday, the company's share price stood at Rs. 70.05, ending 4.09 per cent
higher than the previous close.
Source: Business Line,
June 9, 2006
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