Regency Ceramics Limited has recorded a 49 per cent jump in net profit and 18 per cent increase in turnover for the financial year ended March 31, 2003.
The company posted a net profit of Rs 17.88 crore on a sales of Rs 153 crore for year as against a net profit of Rs 11.97 crore on a sales of Rs 131 crore during the preceding year.
On an equity base of Rs 13.59 crore, it works out an earnings per share of Rs 13.16. It made a provision of Rs 6.86 crore for tax ( including deferred income tax) and 8.16 crore for depreciation during the year.
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Regency Ceramics has run into a dispute with the income tax department involoving an amount of Rs 10.36 pertaining to the earliers.
Though the company has decided to contest the matter before the Income Tax Appelate Tribunal (ITAT), it made a provision of Rs 2.75 crore and adjusted an amount of Rs 6.62 crore against the accumulated profit and loss account balance.