Emkay Share and Stock Brokers declares dividend

Mumbai, May 12: The Directors of Emkay Share and Stock Brokers has declared a higher equity dividend at 12.5 per cent for the year ended March 31 as against 10 per cent last fiscal.

The Company has recorded a consolidated total income of Rs 64.10 crore for the year ended March 31 as against Rs 47.60 crore last fiscal, recording a growth of 35 per cent.

The net profit after tax for the current year is Rs 10.37 crore as against Rs 15.45 crore for the previous year, a Company press release here said.

Emkay continued with its expansion plans and ended the year with 178 retail outlets as on March 31 as against 63 retail outlets as on March 31, 2006. To support this rapid growth, Emkay ended the year with 535 employees as against 189 employees last year.

As a diversification measure, Emkay has formed a wholly-owned subsidiary Emkay Insurance Brokers to carry on the business of direct insurance broking, as per IRDA requirements, the release added.

UNI