Northgate profit up, announces bonus

Hyderabad, May 28 (UNI) Northgate Technologies Limited (NTL) has posted a net profit of Rs 57.41 crore, a 147 per cent YoY increase, from a total business of Rs 294.58 crore in 2006-2007.

The total net revenue for the consolidated FY 2007 recorded a YoY increase of 178 per cent, incorporating the business of its subsidiaries in US, Europe and Singapore for the nine months ended 31 December 2006.

The consolidated gross profit was Rs 84.10 crore, a YoY increase of 116 per cent.

The standalone results for FY 2007 showed the gross profit was Rs 57.71 crore, a YoY increase of 72 per cent while the net profit was Rs 50.87 crore, a YoY increase of 110 per cent.

NTL announced a final equity divided of forty per cent or Rs four per share.

The board of directors has recommended bonus shares in the proportion of 1:1, the company said in a statement here today.

UNI