CMC net up 91 per cent to Rs 44.11 crore
Business Standard, New Delhi, April 18, 2006

Our Bureau / Hyderabad April 18, 2006

CMC Ltd has announced net profit of Rs 44.11 crore for the year ended 2005-06, 91 per cent higher compared with Rs 23.05 crore posted in 2004-05.

Total income increased by 9.6 per cent to Rs 857.75 crore from Rs 782.47 crore last year. On a consolidated basis, the group posted a net profit of Rs 48.54 crore for the year ended March 2006, 95.8 per cent higher than Rs 24.79 crore posted in FY05. Total income increased by 12.5 per cent to Rs 916.15 crore from Rs 814.21 crore.

The board of directors has recommended a dividend of 50 per cent on equity shares of Rs 10 each for the financial year, as against 45 per cent paid for the previous year, subject to approval the shareholders at the annual general meeting.