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November 22, 2008


Adhunik Metaliks 2007-08 net profit up by 3.85% YoY

Adhunik Metaliks has posted net profit of INR 21.90 crore for the January to March 2008 quarter up by 2.9% YoY as compared to INR 21.58 crore during January to March 2007 quarter. Net sales for the quarter surged by 66% YoY to INR 311.92 crore as compared to INR 188.03 crore.

For year ended March 31st 2008, net profit rose by 3.85% YoY to INR 80.45 crore as against INR 77.47 crore for the year ended March 31st 2007.

In a separate press release, Adhunik Metaliks has informed that its board has approved initial public offer of its 100% subsidiary Orissa Manganese & Minerals. The board of directors has also declared a dividend of 12% for the financial year ended March 31st 2008.