Visaka's first half net profit up by 72.71 per cent

Hyderabad, Nov 1 (UNI) Visaka Industries Limited reported net profit after tax of Rs 1645.66 lakh for the half year ended September 30, 2006 as against net profit after tax of Rs 952.84 lakh in the corresponding half year of the previous year, a rise of 72.71 per cent.

Earning Per Share (EPS) for the half year ended September 30 went up to Rs 15.06 per share as against EPS of Rs 8.77 in corresponding half year of the previous year, recording increase of 71.72 per cent.

Net Sales Income from operations during the half year ended September 30 was Rs 20,166.48 lakhs compared to Rs 14,571.61 lakhs in the corresponding half year of the previous year, recording an increase of 38.40 per cent.

Company Managing Director Dr G Vivekanand in a statement here today said the company was awaiting consent from the AP Pollution Control Board to start commercial production at its new Asbestos Cement plant at Vijayawada by mid-November 2006. Its extraordinary general meeting had also approved placement of upto four lakh equity shares of Rs 10 each to QIB for financing its Reinforced Building Boards project with 50,000-tonne capacity to be located near Vijayawada with about Rs 40 crore.

UNI DB AA 2041