Indo Gulf Corporation saw its net profit rise by 26 per cent to Rs 1.02 billion for the quarter ended September 30, 2002 as compared to Rs 0.76 billion for the quarter ended September 30, 2001. Total income has increased from Rs 7.06 billion in the same period last year to Rs 8.05 billion in the quarter ended September 30, 2002. Net sales during the quarter under review stood at Rs 7.93 billion as compared to Rs 6.93 billion. For the half year ended September 30, 2002, the company has posted a 35 per cent increase in net profit as Rs 1.71 billion as against Rs 1.26 billion in the same period during the previous fiscal. Its sales turnover of Rs 15.08 billion is up by 18.3 per over the corresponding period of the previous year. The copper division Birla Copper and fertiliser division contributed Rs 6.36.24 billion and Rs 1.57.48 billion, respectively, to the turnover in the second quarter of the current fiscal. Commenting on the results, Indo Gulf Corporation Ltd managing director Debu Bhattacharya said that global copper demand fell by 1.9 percent and the second half of the fiscal year may see only a lacklustre recovery. The company produced 91,571 tons of copper in the half-year and its exports were 37,358 tons. Sales were Rs 12.48 billion and profit before tax and interest was Rs 2.16 billion.
NSTL
