Kanishk Steel Q4 net at Rs 1.92 cr; recommends 10 pc dividend

New Delhi, June 28 (UNI) Chennai-based Kanishk Steel Industries Ltd today reported a net profit of Rs 1.92 crore for the quarter ending March 31,2006 as against Rs 12.04 lakhs in the corresponding quarter last year, besides recommending a 10 per cent dividend on the equity shares.

The company's turnover for the last quarter stood at Rs 82.26 crore as compared to Rs 44.15 crore in the same period last year.

Kanishk Steel's annual net profit rose by 192 per cent at Rs 4.83 crore for 2005-06 as compared to Rs 1.65 crore in 2004-05.

The turnover for the company in the same period stood at Rs 273.93 crore, up by 67 per cent, compared to Rs 163.54 crore in the corresponding period last year.

Net sales in 2005-2006 grew by 68 per cent to Rs 273.28 crore from Rs 162.94 crore in 2004-05.

''With an upswing in the infrastructural growth and continuing real estate boom, we look forward to improving our performance,'' company CMD Ravi Gupta said in a statement here.

The company manufacturers TMT, structural steel items like joists, channels, angles, flats, squares and rounds.

UNI MQA/PV RA ND844