IPCL to mull interim dividend on May 4

Mukesh Ambani-controlled Indian Petrochemicals Corporation Ltd said on Wednesday it will consider interim dividend payout to shareholders for 2005-06 on May 4.

The board of directors will meet on May 4 to consider and recommend the interim dividend, the company informed the Bombay Stock Exchange.

IPCL, which announced its working results on Tuesday, reported a 26 per cent decline in net profit at Rs 249 crore (Rs 2.49 billion) for the January-March quarter compared to Rs 336 crore (Rs 3.36 billion) in the year-ago period.

Total income for the period too declined 13 per cent to Rs 2,324 crore (Rs 23.24 billion) as against Rs 2,682 crore (Rs 26.82 billion) last year.

For the financial year ended March 2006, IPCL's net profit, however, rose to Rs 1,005 crore (Rs 10.05 billion) against Rs 786 crore (Rs 7.86 billion) for the previous fiscal.

The total income for the year increased 3.28 per cent to Rs 8,605 crore (Rs 86.05 billion). IPCL's shares were trading at Rs 263.80, down 1.95 per cent at the BSE.

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