Gujarat NRE Coke Q1 net at Rs 94.4 cr

declares 25% dividend

The company had a net profit of Rs 42.8 crore in the year-ago period, the company said in a filing to the Bombay Stock Exchange.     

Total income of the company for the latest quarter stood at Rs 382.12 crore as against Rs 152.38 crore in the same period last fiscal.     

The board has recommended a final dividend of 25 per cent to the shareholders for the year 2007-08, subject to shareholders approval.     

Gujarat NRE would also issue bonus shares in the ratio of 2:5 that is, two shares for every five shares held by the shareholders, it added.     

The Group reported a net profit of Rs 121.45 crore for the first quarter in the current fiscal as against Rs 403.77 crore in the corresponding period last fiscal.     

The annual general meeting of the company would be held on September 17, the filing informed.     

Besides, the company also announced the audited results for the fiscal 2007-08, with a net profit of Rs 172.8 crore, a per cent rise as against Rs 55.73 crore for the year ended March 31, 2007.     

The total income increased to Rs 918.89 crore in the year ended March 31, 2008, as compared to Rs 533.60 crore a year-ago.