Sical Logistics announced that the audited consolidated net profit, after prior period and exceptional items, for the year 31 March 2008 (FY 07-08) was Rs 502 million, up 11% from Rs 450.4 million a year ago. Profit before prior period and exceptional items was Rs 426.3 million, up 36% from Rs 313.6 million a year ago. Net sales for FY 07-08 was Rs 7.1 billion, from Rs 10.5 billion a year ago, due to the demerger of the non logistics business. Consolidated net sales of Sical's core logistics business was Rs 6.8 billion, up 1.6% from Rs 6.7 billion a year ago.

The prior period items relate to tax adjustments in FY06-07, while the exceptional items relate to the net impact of the disposal of the non-logistics businesses like auto components unit, specialty chemicals, refractory unit and unrealized gain on restatement of foreign currency convertible bond loan and deposits. Consolidated cash reserves, as of 31 March 2008, were Rs 2.71 billion; total debt stood at Rs 6.85 billion.  

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