Ester Industries Limited announces first interim dividend

New Delhi: Ester Industries Limited, producers and exporters of bi-axially oriented polyester films has registered strong growth in the quarter ended December 2003 and nine months ended December 2003. On the back of strong domestic & global demand, improved operational efficiency and financial restructuring through a one-time settlement with Financial Institutions.

The company has achieved net profits after tax of Rs.1361.99 lacs (quarter ended December 2003) and Rs 3225.95 lacs (nine months ended December 2003) over the net sales of Rs. 7099.52 lacs (quarter ended December 2003) and Rs 20560.66 lacs (nine months ended December 2003) respectively — registering an increase of around 667% and 324% in net profits as compared to quarter ended December 2002 and nine months ended December 2002 respectively.

The Board of Directors have declared maiden interim Dividend of Re. 0.625 per share (12.5% age of equity share of face value of Rs.5/-), for the year 2003-2004 at the Board meeting today. The dividend on new shares shall be paid on pro-rata basis, i.e. from the date of allotment.