CALCUTTA, June 11: ITC Hotels Limited has reported 7.7 per cent growth in revenues to Rs 129.24 crore and 17 per cent growth in PAT to Rs 31.05 crore for the year ended March 31, 1997. The operating profit margin has improved to 35.14 per cent from 33.98 per cent in 1995-96.

Significantly, interest charges have been pruned to Rs 4.72 crore from Rs 9.14 crore in the previous year.

At a board meeting today, a dividend of 30 per cent was proposed on the equity capital of Rs 30.21 crore. The company's foreign exchange earnings went up by 7 per cent to Rs 71.92 crore. The EPS has improved to Rs 10.28 from Rs 8.78 in the previous year. The reserves as on March 31,1997 stand at Rs 162.36 cr.

FGP profit down

MUMBAI: The net profit of FGP Ltd has dropped sharply to Rs 7.37 crore during the year ended March 1997 from Rs 20.05 crore mainly due to sluggish demand, over capacity and provision of MAT. Sales amounted to Rs 97.86 crore against Rs 124.70 crore and earned a lower gross profit of Rs 13.07 crore against Rs 24.41 crore. The directors have recommended a dividend of 16 per cent.

Marico

MUMBAI: The directors of Marico Industries have recommended a final dividend of 30 per cent on enhanced capital, making the total dividend to reach 50 per cent for the year ended March 1997 against 25 per cent pro-rata dividend paid last year, absorbing Rs 7.69 crore against Rs 2.52 crore.

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