Poly Medicure records 18% net profit, announces 20% dividend

New Delhi, Jun 9 (UNI) Poly Medicure Ltd, a medical devices and disposable manufacturer, today announced a 18 per cent increase in its net profit at Rs 717.53 lakh for the year ending March 31, 2006 as against Rs 608.30 last year, while the Board of Directors has recommended a 20 per cent final dividend.

The company, under the brand name Polymed, recorded Rs 13.29 earning per share (EPS) as on March 31, 2006 as against Rs 11.42 for the same period last while Gross Sales also increased upto Rs 7,152.78 lakh from the previous year's Rs 6,527.84.

Declaring the annual results of the company, MD Poly Medicure Ltd Himanshu Baid said, ''The company is in the process of acquiring 75 per cent stake in a US company, which holds 8 patents and 2 FDA approvals for Safety Medical Devices.'' ''We are also expanding our present capacity of 130 million to 180 million with the capital expenditure of Rs 25 crore to cater to the demands in the domestic and international market,'' he said.

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