Kanoria chemical net up 129%, issues bonus shares

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New Delhi, Oct 26 (UNI) Country's leading manufacturer of chemical intermediates Kanoria Chemicals and Industries Ltd (KCI), today said its net profit for the second quarter ended September 30, 2007 jumped 129 per cent to Rs 11 crore as compared to Rs 4.8 crore in the corresponding quarter last fiscal.

The net profit for H1FY08 also increased by 218 per cent to Rs 21 crore as compared to Rs 6.6 crore in the same period last fiscal.

Its net revenues from sales in the quarter stood at Rs 104 crore and EBIDTA was at Rs 28 crore. For the period its EDIDTA stood at Rs 55 crore.

The company has also decided to split a ten rupee share into two shares of Rs five each. This will increase the number shares of the company to 37.53 lakh from the current 18.76 lakh after shareholders approval.

The board has also approved the issue of one bonus share for every two share held to be issued after clearence of the shareholders.

UNI

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