Surya Roshni Q4 net rises 38% to Rs 40 cr

Electric resistance welding pipes and lighting equipment maker Surya Roshni today said its net profit grew 38.66% to Rs 40.13 crore in the fourth quarter ended March 31, 2010, over the corresponding period an year ago.

The company had a net profit of Rs 28.94 crore in the same period last fiscal, Surya Roshni said in a filing to the Bombay Stock Exchange (BSE).

Total income increased to Rs 738.99 crore in the quarter under review from Rs 503.87 crore in the same period last year.

For the year ended March 31, 2010, its consolidated net profit jumped up to Rs 67.47 crore from Rs 45.17 crore in the 12-month period last fiscal.

Consolidated total income surged to Rs 2,532.92 crore in the year under review from Rs 1938.93 crore an year ago.

The board recommended a final dividend of Rs 1.5 per equity share of Rs 10 each for the year under review.

The board appointed Arvind Kumar Bansal, Deputy Managing Director (Operation & Corporate Management), as Chief Financial Officer of the company in place of SN Bansal.

Surya Roshni functions as a conglomerate with the largest ERW pipe manufacturing plant, a large cold rolling strip mill at Bahadurgarh (Haryana).

It has two lighting units one each at Kashipur (UP) and Malanpur (MP) producing a wide range of fluorescent lamps and metal halide lamps.

The company also markets a wide range of luminaires and accessories, high mast lighting systems, lighting poles, decorative poles and MCBs.

Shares of the company closed at Rs 95.5, down 2.5% from the previous close on the BSE.