Mumbai, Jun 4: Real estate developer Marathon Nextgen Realty has reported a 58 per cent rise in its unaudited net profit for the quarter ended March 31 at Rs 47.75 crore as compared to Rs 30.03 crore in the corresponding period a year ago.
The net sales during same quarter grew by 98 per cent at Rs 78.20 crore, against Rs 39.45 crore in the corresponding quarter a year ago, the company said in a release. The company's board, at its meeting held here last evening, has also declared a dividend of 16 per cent on its equity shares for the financial year 07-08. For the fiscal ended March 31, 2008, the net profit rose by 37.3 per cent at Rs 62.2 crore. The total revenue of the company grew by 23 per cent to Rs 119.4 crore over the previous financial year, the company said.
Commenting on the financial performance of the company, Chairman and Managing Director Chetan Shah said ''The realty major did exceedingly well during FY08 and the results have been improving consistently''.