Bangalore, Oct 14: Himatsingka Seide Ltd has reported a 42 per cent rise in sales to Rs 38.14 crore for the six months ended September 30, 1998, as compared with Rs 26.75 crore in the corresponding period last year. The board of directors, which met in Bangalore on Tuesday, announced an interim dividend of 35 per cent (25 per cent) on the equity capital of Rs 9.55 crore.The company's net profit during the period stood at Rs 13.22 crore, against Rs 11 crore in the same period last year. The company's gross profit after interest but before depreciation rose 27.5 per cent to Rs 17.13 crore, as compared with Rs 13.44 crore in the corresponding period last year.
The Bangalore-based company has received orders worth Rs 16 crore during the current fiscal. A substantial part of orders has come for blended fabrics developed using yarn produced in its own spinning unit, a company release said.
The company has prepaid the entire short-term loan of Rs 12.20 crore during the first half-year ended September 30,1998. It has also prepaid loans of Rs 5.12 crore during the same period.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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