Bannari Amman Spinning net up at Rs 39 cr in FY11

Textile manufacturer Bannari Amman Spinning Mills today posted more than two-fold jump in net profit to Rs 38.80 crore for the year ended March 31, 2011.

The net profit of the company stood at Rs 15.05 crore in the 2009-10 fiscal, the company said in a filing to the Bombay Stock Exchange (BSE).

The net sales of the company in 2010-11 rose by 54.46% to Rs 548.85 crore against Rs 355.31 crore in the previous fiscal.

Bannari Amman also recommended a dividend of Rs 2 per share for the 2010-11 fiscal.

Shares of the company today settled at Rs 98 on the BSE, down 4.53% from its previous close.