Diversified firm Nava Bharat Ventures today reported a 16 per cent fall in its net profit at Rs 108.54 crore for the fourth quarter ended March 31.     

The company had a net profit of Rs 129.42 crore during the January-March quarter of 2008, Nava Bharat said in a statement. The company has presence in power, infrastructure and ferro alloys sectors among others.     

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However, for the financial year ended March 31, 2009, Nava Bharat posted a growth rate of 44 per cent in its net profit to Rs 455.10 crore, as against Rs 314.84 crore in FY08.     

Total income during the 2008-09 fiscal also rose to Rs 1,280.80 crore from Rs 931.60 crore in FY08.     

The company has declared a dividend of Rs 8 per share for the 2008-09 fiscal.     

Shares of Nava Bharat surged 6 per cent and were trading at Rs 288 in the late afternoon trading on the Bombay Stock Exchange.

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