ITC Limited on Friday reported a 19.68 per cent increase in net profit at Rs 387.06 crore (Rs 3.87 billion) during the fourth quarter ended March, 2004 whereas net profit in FY04 surged by 16.15 per cent to Rs 1,592.85 crore (Rs 15.93 billion).
The company's net profit during the fourth quarter of the previous financial year stood at Rs 323.42 crore (Rs 3.23 billion) and that during FY03 stood at Rs 1,371.35 crore (Rs 13.71 billion).
The board has recommended a dividend of Rs 20 per share (previous year Rs 15 per share) after a meeting to consider the audited financial results, ITC said in a release.
The dividend will entail a total cash outflow of Rs 559 crore (Rs 5.59 billion), comprising the proposed dividend of Rs 495 crore (Rs 4.95 billion) and income tax on the proposed dividend of Rs 64 crore (Rs 640 million).
Net income during the quarter increased to Rs 1,938.16 crore (Rs 19.38 billion) from Rs 1,579.93 crore (Rs 15.80 billion) while profit before tax rose to Rs 524.26 crore (Rs 5.24 billion) from Rs 463.36 crore (Rs 4.63 billion) despite marginal increase in interest charges.
Net income during the year increased to Rs 6,695.32 crore (Rs 66.95 billion) from Rs 6,035.37 crore (Rs 60.35 billion) while total expenditure jumped to Rs 4,109.85 crore (Rs 41.10 billion) from Rs 3,712 crore (Rs 37.12 billion), it said.
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