Surana Corp's Q4 net up 71% to Rs 12 cr

Gold jewellery maker Surana Corporation today said net profit after tax grew 71.67 per cent to Rs 11.84 crore in the fourth quarter ended March 31, 2010, compared to the corresponding period a year ago.

The company had a net profit of Rs 5.72 crore in the same period last fiscal, Surana Corporation said in a filing to the Bombay Stock Exchange (BSE).

Total income climbed to Rs 1,274.99 crore in the quarter under review from Rs 501.95 crore in the same period last year, the statement said.

For the year ended March 31, 2010, net profit after tax rose to Rs 40.46 crore from Rs 22.50 crore in the previous fiscal, it said.

Total income jumped up to Rs 4,062.09 crore in the year under review from Rs 2,285.79 crore a year ago, the company said.

Surana Corporation's board of directors has recommended a dividend of Rs 1.50 per share on the paid-up equity capital of the company for the year 2009-10.

The main operations of the company relate to manufacture, sale and export of gold ornaments.

The company has diversified its activities into wind energy too. However, the wind energy business doesn't contribute significantly to the company's revenues and therefore, was not included in the result, it said.

Shares of the company closed at Rs 67.50, up 2.58 per cent from the previous close on the BSE.