Grindwell Norton Net Up 21% At Rs 14.9 Crore

Grindwell Norton Ltd, manufacturer of industrial abrasives, power semi-conductor devices and silicon carbide, has posted a rise of 21 per cent in net profit for 1997-98. The net profit has gone up to Rs 14.9 crore from Rs 12.3 crore last year. The company has announced a dividend of 30 per cent on its expanded capital base. While sales have risen only by four per cent to Rs 190.6 crore, operating profit increased to Rs 29.6 crore. The company has attributed its low growth to general industrial slowdown.