city02 63 Report post Posted July 27, 2004 True to its avowed mission of creating value for all stakeholders by enhancing productivity and controlling cost, the Indian Petro Chemicals Limited (IPCL) has staged an excellent performance during the first quarter of the current fiscal year that ended on June 30, 2004. Increase in turnover, net profit, production and exports were the hallmarks of the performance.While net profit zoomed to Rs 123 crore ($ 27 million) from Rs 39 crore ($ 8.48 million) for the corresponding previous quarter, registering an increase of 215 per cent, cash profit catapulted by 600 per cent to Rs 294 crore ($ 64 million). Gross Turnover ballooned to Rs 3032 crore ($ 717 million) as against Rs 2633 crore ($ 572 million) for the corresponding previous quarter, marking a rise of 67 per cent. Exports jumped from Rs 123 crore ($ 27 million) to Rs 205 crore ($ 45 million), up by 67 per cent. Interest cost came down by 54 per cent to Rs 28 crore ($ 6 Million). Total Production Volume rose by 20 per cent to touch 1.25 million tonnes. Earnings Per Share (EPS) surged to Rs 4.96 vis-a-vis Rs 1.57. Consequently, IPCL's contribution to national exchequer in the form of various taxes is Rs 248 Crore ($ 54 million). Commenting on the buoyant and h e a l t h y r e s u l t s , M u k e s h Ambani, Chairman, IPCL, said, “We are satisfied with IPCL's strong performance in a quarter in which petrochemical margins have remained robust. We are confident of further improvement in IPCL's operating and financial performance in the future.” Results for the current quarter (July-September) will be announced in the last week of October 2004. Share this post Link to post Share on other sites
