MUMBAI, May 16: Ion Exchange has posted a net profit of Rs 10.62 crore for the year ended March 1997, compared to Rs 9.02 crore in the previous year. Net sales rose to Rs 176.84 crore from Rs 165.21 crore last year, a 7 per cent increase.

The company has maintained its dividend at Rs 3 per share. Earnings per share stands at Rs 10.19 on an enhanced capital of Rs 10.62 crore. There was a marginal rise in net profit margins to 6.12 per cent from 5.58 per cent. Operating profit margins too increased to 14.12 per cent from 13.71 per cent.

Gross profit at Rs 18.30 crore was up from Rs 15.7 crore last year while gross profit margins rose to 10.35 per cent from 9.5 per cent.

According to a press release, exports at Rs 21 crore represent a 100 per cent increase over the previous year. The company is in the process of setting up an export assembly centre at Rabale in Navi Mumbai, Maharashtra. It is expected to commence functioning in the second quarter of 1997.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.