CMC FY05 net down 52%

CMC today reported a 51.95% decline in net profit at Rs 23.05 crore for the year ended March 31, 2005 when compared with Rs 47.98 crore in 2003-04.

Revenue increased to Rs 782.47 crore for FY05 from Rs 763.67 crore last year, the company said in a release issued to the BSE today.

The board has recommended a dividend of 45% for the financial year 2004-05, it said.

The company posted a net loss of Rs 16.72 crore for the fourth quarter ended March 31, 2005 as against a profit after tax of Rs 20.53 crore in Q4FY04. Revenue declined to Rs 215.45 crore from Rs 218.73 crore, the release added.