Garware Offshore sails up on results

DALAL STREET SPIKES

The share price of Garware Offshore Services surged 4.98 per cent to Rs 182.45. After hitting its 52-week high of Rs 300.25 in December, the stock has corrected drastically.

For the quarter ended December 2006, the company reported net profit of Rs 3.63 crore compared with Rs 2.16 crore in the corresponding quarter of the previous year.

The company's sales grew at Rs 14 crore (Rs 9.1 crore). The company also recommended a final dividend 8 per cent in addition to the interim dividend of 10 per cent already declared and paid. Total dividend for 2006 is 18 per cent compared with 12 per cent last year.