Sobha Developers Q4 profit after tax at Rs.61.9 crores, recommends 55% dividend

Sobha Developers Ltd has announced the Audited financial results for the quarter & year ended March 31, 2007. The results for the Quarter ended March 31, 2007 are as follows: The Company has posted a profit after tax of Rs 619 million for the quarter ended March 31, 2007 where as the same was at Rs 365 million for the quarter ended March 31, 2006. Total Income (net of excise) is Rs 3589 million for the quarter ended March 31, 2007 where as the same was at Rs 1965 million for the quarter ended March 31, 2006.

The results for the Year ended March 31, 2007 are as follows: The Company has posted a profit after tax of Rs 1615 million for the year ended March 31, 2007 where as the same was at Rs 885 million for the year ended March 31, 2006. Total Income (net of excise) is Rs 11894 million for the year ended March 31, 2007 where as the same was at Rs 6273 million for the year ended March 31, 2006.

The Company has commenced new activities of Metal & Glazing Works and Interiors Works w.e.f. April 03, 2006 and hence previous year / period figures are not comparable.

The Board of Directors of the Company at its meeting held on May 14, 2007, inter alia, has recommended a dividend at the rate of 55% is declared in the Meeting subject to the approval of the Members of the Company in its ensuing Annual General Meeting.

The Register of Members & Share Transfer Books of the Company will remain closed from August 04, 2007 to August 13, 2007 (both days inclusive) for the purpose of payment of dividend & Annual General Meeting of the Company to be held on August 13, 2007.

Source : Equity Bulls

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