Jessop

Kolkata, May 29(UNI) The Jessop&Company has registered a net profit of Rs 11.07 crore in 2006-07 compared Rs 9.97 crore in the previous fiscal.

A company release here today said the total income of the company has increased to Rs 83.92 crore in 2006-07 compared to Rs 78.67 crore in 2005-06. The total income, however, not included the value of free materials provided to the company by Indian Railways and other clients for some major contracts.

The Board of Directors of Jessop&Co Ltd has declared a 10 per cent dividend for its shareholders for 2006-07.

Company Chairman Pawan Kumar Ruia said, ''Jessop&Co is consolodating its position in the industry. In 2006-07, the wagon production has improved by 153 per cent over last year.'' Jessop has made a new foray into the non-Railway market and most of the major steel plants wer now in the poftfolio of the company.

"We are hopeful about a contribution of about 10 per cent from this sector," he said.

The Ruia Group took management control of Jessop&Co. Ltd, the only engineering PSU that has been disinvested, on 29 August 2003.

UNI