Indo Rama Synthetics Q1 net up 4 per cent

New Delhi, July 16: Indo Rama Synthetics India Ltd today said it has posted a 4.12 per cent increase in its net profit to Rs 2.27 crore for the first quarter ended June 30, 2007 as compared to Rs 2.18 crore for the corresponding period last year.

Its total income also rose by 54.01 per cent to Rs 729.04 crore as against Rs 473.37 crore during the said period, said a statement.

The company has also approved the amalgamation of Indo Rama Petrochemicals Ltd (IRPL) with itself. As per the scheme, the swap ratio of 10:16 has been approved so that the shareholders of IRPL receive 16 shares in the company for every 10 shares held in IRPL.

UNI