Shanthi Gears clocks 10% rise in 4th quarter net

: Shanthi Gears Ltd., a Murugappa Group company, has recorded a 10 per cent rise in its fourth quarter profits ending March 31, 2017 at Rs 6.16 crore.
The Tamil Nadu-based company had registered profits at Rs 5.60 crore during the corresponding period last year.
For the financial year ending March 31, 2017, net profits went up to Rs 22.51 crore from Rs 17.73 crore registered during year ago period.
Total income for the quarter from January-March 31, 2017 grew to Rs 58.15 crore from Rs 48.03 crore registered during year ago period.
Total income for the financial year ending March 31, 2017 surged to Rs 214.55 crore from Rs 191.34 crore registered during year ago period.

The Board of Directors which met today recommended a dividend of Rs 0.75 per equity share of Re.One each for the financial year ending March 31, 2017.
Following the approval of the members at its annual general meeting, the dividend will be paid after July 31, 2017.
Shares of the company ended at Rs 129.10 apiece up by 4.32 per cent over the previous close in BSE.