Mumbai: Jai Corp on 12 May announced a standalone net profit of Rs38.81 crore for the fourth quarter ended March 31, 2008, a 85.16% growth over the corresponding period a year ago.
The company had a net profit of Rs20.96 crore in the fourth quarter of fiscal ended 2006-07, Jai Corp said in a filing to the Bombay Stock Exchange.
Total income rose to Rs147.57 crore in the latest quarter, from Rs80.73 crore in the same period a year ago.
For the year ended 31 March, the group posted a consolidated net profit of Rs141.1 crore, up 91.4% over the year-ago period.
The group had a net profit of Rs73.72 crore in the year ended 31 March 2007.
The board has declared a dividend of 100% on equity shares of face value of Re1 each, while the promoters have waived their entitlement.
The total income rose to Rs465.75 crore for the year ended 31 March, from Rs345.7 crore in the year-ago period.
Jai Corp announced a standalone net profit of Rs128.15 crore for the year ended 31 March, while its total income rose to Rs438.01 crore.
The board has approved the appointment of Anand Jain as a director of the company.
The company is engaged in making steel, plastic processing and spinning yarn. At present, it is investing in emerging opportunities such as developing SEZs, infrastructure, venture capital and real estate.
Shares of Jai Corp were trading at Rs639 in morning, down 5% on the BSE.