MUMBAI, April 27: Dharamsi Morarji Chemical Company Ltd (DMCC) has posted a net profit of Rs 8.51 crore for the year ended March 31, 1998, as compared with Rs 5.14 crore in the previous year. Net sales increased by 5.2 per cent to Rs 225.94 crore, against Rs 214.79 crore last year. Operating profit rose to Rs 24.28 crore from Rs 22.09 crore, while operating profit margins increased to 10.7 per cent from 10.28 per cent. Net profit margins rose to 3.7 per cent from 2.3 per cent.Interest cost was lower at Rs 10.74 crore as compared with Rs 13.01 crore last year. Depreciation was higher at Rs 5.39 crore, against Rs 5.14 crore.
Provision from taxation was lower at Rs 1.16 crore, against Rs 1.82 crore in the previous year. Turnover from its projects division (Rs 2.6 crore in 1996-97) has not been included as it was hived off to a 50:50 joint venture company with Monsanto of US, a year ago.
Sales from speciality chemicals during the year accounted for Rs 22 crore, against Rs 16 crore last year. This,according to managing director JL Thakkar, is expected to rise to Rs 35 crore during the current fiscal.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
