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Journalism of Courage
Cadbury profits fall 8.6
MUMBAI 8212; The net profit of Cadbury India has dropped by 8.6 per cent to Rs 18.57 crore during the year ended December 1997 from Rs 20.32 crore last year mainly due to higher interest Rs 8.72 crore against Rs 3.57 crore and depreciation charges. The directors, however, maintained the dividend at 35 per cent pro-rata on rights shares issued during 1997 on the enhanced capital of Rs 23.80 crore Rs 19.84 crore. Net sales during the year were 12.8 to Rs 354.14 crore Rs 313.88 crore. The gross profit declined slightly to Rs 40.46 crore Rs 40.69 crore. The provision for depreciation amounted to Rs 13.69 crore Rs 8.47 crore and taxation at Rs 8.20 crore Rs 11.90 crore. After adding brought forward of Rs 7.16 crore Rs 6.47 crore, the cumulative profit amounted to Rs 25.73 crore Rs 26.79 crore. The proposed dividend will absorb Rs 7.59 crore against Rs 6.94 crore.
BSE directors
MUMBAI 8212; Three members of the Bombay Stock Exchange BSE were electedunopposed as directors on the governing board of the exchange for the year 1998-99. They are: Jasvantlal C Parekh, Rajendrakumar D Banthia and Kirit Bhagwandas. According to a BSE press release, there were four nominations for the three vacancies. However, the fourth candidate 8212; Mahendra A Shah 8212; withdrew his nomination on Thursday. Hence, the other three candidates were declared elected, the release added.
