Kanoria Chemical FY08 net up 56% to Rs 31 cr

New Delhi, Apr 29 (UNI) Leading manufacturer of chemical intermediates, Kanoria Chemicals&Industries Limited (KCI), today said its net profit for the year ended March 31, 2008 increased 56 per cent to Rs 31 crore.

Its sales revenue stood at Rs 432 crore, said a statement.

EBIDTA for the fiscal stood at Rs 97 crore as against Rs 84 crore last year, registering a growth of 15 per cent.

For FY08, the EBITDA margin stood at 22.4 per cent as against 19.6 per cent in the previous year.

The board has recommended a dividend of 30 per cent for FY08 on the post Bonus enlarged equity capital.

Company Chairman and Managing Director R V Kanoria said, ''Even though we faced difficult market conditions during the year, our operating margins have improved indicating efficient operations.

We were also able to maintain our interest costs despite rising rates in the last quarter of FY08. The net profit for the year increased by 56 per cent in spite of higher incidence of deferred tax and depreciation.'' UNI PBB PDT AS1631