Briefing

IVP has notched up an increase of 139 per cent in sales to Rs 693 crore. Gross profit increased by 54 per cent to Rs 21.25 crore compared with Rs 13.81 crore in the previous year. Net profit has increased by 54 per cent to Rs 12.83 crore. The ratio of gross profits to sales has, however, declined as the major growth in sales came from trading, where margins have been under pressure.

Uniflex Cables net up 110 to Rs 4.53 cr

Uniflex Cables, a Mumbai-based manufacturer of telecom and power cables, has more than doubled its net profit by 110 per cent to Rs 4.53 crore for the year ended march 31, 1989-99. The board has recommended a dividend of 15 per cent as against 10 per cent last year, according to a company statement. Its net sale have gone up by 12 per cent to Rs 136.48 crore. The operating profit has risen by 34.8 per cent to Rs 24.21 crore as compared with Rs 19.52 crore in the previous year. Margins have improved from 16 per cent to 17.5 per cent due to tight control on costs, the statement said.