Madras Cements net up

Madras Cements registered a profit after tax of Rs 33.40 crore (Rs 12.96 crore) in 2003-04, higher by 158 per cent in relation to the previous year.  The company’s board recommended a final dividend of 50 per cent on each equity share (face value of Rs 10). An interim dividend of 25 per cent has already been paid.

The company’s net sales in 2003-04 were Rs 695 crore (Rs 626 crore), higher by 11 per cent. In 2003-04, Madras Cements’ average realisation increased Rs 50-60 a tonne, said Mr A.V. Dharmakrishnan, Senior Vice-President, Finance. The total cement despatch during the year was 3.71Mt (3.518Mt).