Indo-Gulf FY05 net at Rs 57cr

Indo-Gulf Fertilizers today reported a net profit of Rs 56.93 crore for the year ended March 31, 2005 as against Rs 90.27 crore in FY04.

According to a release issued by the company to the BSE today, total income increased to Rs 698.72 crore for the year ended March 31, 2005 from Rs 604.56 crore in FY04.

"In the previous year, Rs 47.02 crore was accounted as revenue and included in the sales and price support under the then retention pricing scheme of the Government of India, which was applicable up to March 31, 2003. Accordingly, the results of the previous year are not comparable with the results of corresponding periods of the current year," the release said.

The board has recommended a dividend of  Rs 2.80 per share, the release added.