Parry's net profit up by 823% at 108.3 cr; recommends 225% dividend

New Delhi, July 19 (UNI) EID Parry (India) Ltd today announced it had recorded a 823 per cent increase in its net profit at Rs 108.30 crore for the first quarter ended June 30, 2006, as against Rs 11.73 crore in same period last year.

The Board has recommended a special interim dividend of 225 per cent for year ending March 31, 2007.

The turnover of the company for the quarter was Rs 176.16 crore as against 114.68 crore during the corresponding period last year, a company statement said.

''EID Parry divested a part of the sharholding of Parryware Glamourooms Pvt Ltd, in favour of Roca -- after getting into a 50:50 partnership with Roca, effective from June 1, 2006 -- which has resulted in a one-time profit of Rs 118.12 crore,'' it said.

EID Parry (India) is one of the 29 registered companies of Chennai-headquarted 1.6 billion dollar Murugappa Group.

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