Subros Q1 net up 10.08%

New Delhi, July 30 (UNI) Automotive airconditioning system manufacturers, Subros Ltd today said the company's net profit for the first quarter ended June 30, 2007 increased by 10.08 per cent at Rs 5.46 crore, as against Rs 5.95 crore in the corresponding period last year.

It registered an increase of 12 per cent in its sales turnover at Rs 185.04 crore for the said quarter as against Rs 165.38 crore over the corresponding period in the last financial year.

During the quarter, the company sold 1,19,003 AC systems as against 1,01,343 units in the corresponding quarter of the last year.

Subject to the approval of shareholders in the ensuing Annual General Meeting to be held on September 24, 2007, the Board has recommended an increased dividend of 40 per cent for the financial year ending March 31, 2007 against 35 per cent paid last year on the paid-up capital.

The Board has also recommended, subject to the approval of shareholders in the ensuing Annual General Meeting, subdivision/split of company's share of Rs 10 each into two rupees each.

The company has manufacturing plants at Manesar (Haryana) and Chakan (Pune), and supplies to customers like Maruti Udyog Ltd and Tata Motors Ltd.

UNI