Praj Industries Q2 net jumps 275 pc, interim dividend @ 45 pc

Mumbai, Oct 16 (UNI) Praj Industries has posted a net profit for the quarter ended September 30 this year to Rs 17.49 crore as compared to Rs 4.66 crore for the corresponding quarter the previous year, a phenomenal growth of 275 per cent.

Announcing the results, the company said its total income rose to Rs 148.76 crore for the quarter ended September 30 this year from Rs 57.68 crore in the corresponding quarter last year, witnessing a rise of 158 per cent. Net sales surged to Rs 147.67 crore for the quarter ended September, 2006, as against Rs 57.53 crore in the corresponding quarter a year ago.

The EPS increased to Rs 2.09 in the September 2006 quarter as compared to Rs 0.57 in the corresponding quarter last year.

The board of the company has declared an interim dividend of Rs 0.90 per share of Rs two each, equivalent to 45 per cent.

During the year, the company has raised Rs 38.03 crore against the preferential allotment of shares and warrants. The proceeds will be utilised for upgrading infrastructure facilities.

The company has acquired 100 per cent of the share capital of CJ Schneider Engineering Inc, USA engaged in providing engineering services to clients in North America including ethanol manufacturers.

UNI SN SSS SKB2001