Khaitan chemicals net up 4.5% at Rs 9.25 cr

New Delhi, 30 Apr (UNI) Khaitan Chemicals and Fertilisers Ltd today posted 4.5 per cent growth its net profit to Rs 9.25 crore in year ending March 2007, against Rs 8.85 crore in the corresponding period last fiscal.

The company recorded a 52 per cent rise in turnover for the year ending March 31, 2007 to Rs 374.38 crore from Rs 245.60 crore over the same period last year.

Its operating profit has increased by 27 per cent to Rs 29.19 crore from Rs 22.91 crore last year, the profit before depreciation and tax (cash profits) has increased by 25 per cent to Rs 19.16 crore from Rs 15.34 crore previous year, a statement said.

The Board of Directors has recommended a dividend of 18 per cent.

Calling 2006-07 the year of consolidation, Khaitan Chemicals and Fertilisers Ltd Chairman Shailesh Khaitan said, ''Acquisition and merger of Mahadeo Fertilisers Ltd, the expansion of Soya capacity and the SSP granulation plant put up last year have all been stabilised and are producing well.'' During the current year, the company has commissioned a 1.25 MW wind turbine in Maharashtra and has put up a Lecithin plant at Ratlam.

UNI