Colour-Chem profit before tax up by 23%
By Our Corporate Bureau | 29 May 2002
Mumbai: Colour-Chem's profit before tax for the year ended 31 March 2002 of Rs 1,416 lakh registered a growth of 23 per cent over Rs 1,148 lakh in the previous year. After providing Rs 510 lakh for taxation (previous year: Rs 250 lakh), the profit after tax increased marginally to Rs 906 lakh compared to Rs 898 lakh in the previous year.
The increase in pre-tax profits in a relatively difficult business environment is reflective of the improvement in the operational efficiencies of the company, through its sustained efforts to reduce costs, improve yields and the introduction of new products. The company is hopeful of further improving its performance in all its business during the current year.
The sales turnover for the year 2001-02 was marginally lower at Rs 34,215 lakh as compared to Rs 34,413 lakh in the previous year. This decrease is mainly attributed to lower export sales due to the global economic slowdown in 2001.
The board of directors has recommended a dividend of 50 per cent for the year 2001-02 (previous year: 40 per cent).