1:1 bonus from SmithKline

BANGALORE, FEB 18: Smithkline Beecham Pharmaceuticals India Ltd has announced a 1:1 bonus issue. The board of directors, which met here on Wednesday also proposed a dividend of 50 per cent for the year ended December 1997. Last year the company declared a dividend of 35 per cent.

The bonus and hike in dividend come in the wake of the company reporting a whopping 72 per cent increase in net profit to Rs 33.18 crore for the period under review against Rs 19.33 crore in the previous year. The total income stood at Rs 270.60 crore Rs 208.62 crore, a growth of 30 per cent.

While other income of SmithKline Beecham is Rs 8.03 crore Rs 2.44 crore. Profit after interest, but before depreciation and taxation is Rs 52.90 crore Rs 34.75 crore and the depreciation shown is Rs 1.71 crore Rs 1.72 crore.