Gujarat Industries Q4 profit after tax zooms to Rs.52.12 crores, recommends 5% dividend

Gujarat Industries Power Company Ltd has announced the results for the quarter & year ended March 31, 2007. The Unaudited results for the Quarter ended March 31, 2007: The Company has posted a profit after tax of Rs 521.20 million for the quarter ended March 31, 2007 as compared to Rs 181.70 million for the quarter ended March 31, 2006. Total Income has increased from Rs 1889.00 million for the quarter ended March 31, 2006 to Rs 2306.20 million for the quarter ended March 31, 2007.

The Audited results for the Year ended March 31, 2007: The Company has posted a profit after tax of Rs 1829.20 million for the year ended March 31, 2007 as compared to Rs 1148.10 million for the year ended March 31, 2006. Total Income has increased from Rs 8008.90 million for the year ended March 31, 2006 to Rs 8827.90 million for the year ended March 31, 2007.

The Board of Directors of the Company at its meeting held on May 05, 2007, inter alia, has recommended the payment of Final Dividend @ 5.00% for the Financial Year 2006-07 in addition to the 15% Interim Dividend already paid.

The stock was trading at Rs.65.10, up by Rs.1.30 or 2.04%. The stock hit an intraday high of Rs.66 and low of Rs.64.80. The total traded quantity was 53424 compared to 2 week average of 198209.

Source : Equity Bulls

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