Banco Products net up 99% at Rs 21-cr

Banco Products (India), a leading manufacturer of aluminium radiators, has posted a net profit of Rs 21-crore, up 99 per cent, for the quarter ended September 30, as against Rs 11-crore in the corresponding period last fiscal. Banco's net sales also increased by 19 per cent at Rs 95-crore as compared to Rs 80-crore in the same period last fiscal, a press release issued here today stated. The company's net sales for the half-year ended September 30 also grew by 10 per cent at Rs 180-crore as compared to Rs 165-crore in the same period of the previous fiscal. The company has recommended a 75 per cent dividend on a face value of Rs 2 per share.