Gujarat Mineral Development Corporation (GMDC) today said its net profit grew by 11 per cent to Rs 70.60 crore in the fourth quarter ended March 31, 2009, over the same period last year.

The company had a net profit of Rs 63.68 crore during the January-March quarter a year earlier, GMDC said in a filing to the Bombay Stock Exchange.

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GMDC has declared a dividend of 100 per cent or Rs 2 per share for the financial year 2008-09.

For the financial year ended March 31, 2009, GMDC posted a net profit of Rs 236.30 crore, a fall of 10 per cent compared to net profit of Rs 263.93 crore in FY08.

Total income of the company rose to Rs 1,023.80 crore during FY09 from Rs 1,021.74 crore of FY08.

Shares of GMDC closed at Rs 88.85, down 2.90 per cent on the BSE.

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