Fortune Financial FY06 net profit up 185%, dividend at 5%

New Delhi, June 26 (UNI) Fortune Financial Services Ltd (FFSIL) today reported a 185 per cent jump in its net profit at Rs 6.31 crore as on March 31, 2006, as against Rs 2.22 crore for the same period last year.

The Board of Directors has recommended a payment of final dividend of 5 per cent on an enlarged capital base, effected due to issuance of 1-1 bonus shares during the year.

The company's net profit for the quarter ending March 31, 2006, stood at Rs 1.79 crore, 594 per cent up from Rs 0.26 crore during the corresponding quarter last year.

The company posted a total income of Rs 16.56 crore for the period ending March 31, 2006, which was a 156 per cent increase from Rs 6.47 crore last year.

During the quarter ended March 31, 2006, the company reported a total income of Rs 3.94 crore, a rise of 186 per cent as compared to Rs 1.38 crore for last year.

Commenting on the results, FFSIL MD Nimish Shah said, ''Our financial performance during the year has been a milestone in achieving our desired goals. We shall continue to offer integrated and value-added financial solutions to help Indian industry access capital in Indian as well foreign markets.'' FFSIL is the flagship company of the Fortune Financial Services Group, which provides a complete range of financial services like Merchant Banking, Stock Broking and Syndication services, to a select clientele.

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