Indag Rubber Ltd, manufacturing and selling pressured tread rubber and allied products, today announced a net profit of Rs 3.14 crore for the fourth quarter ended March 31, 2009, up more than two-fold over the corresponding period a year ago.
The company had net profit of Rs 1.28 crore in the same quarter last fiscal, Indag Rubber said in a filing with the Bombay Stock Exchange.
Total income of the company increased to Rs 18.65 crore for the quarter under review from Rs 16.90 crore for the same period last fiscal.
For the year ended March 31, 2009, the company's net profit declined to Rs 7.62 crore from Rs 8.27 crore in the previous year.
Total income of the firm rose to Rs 76.36 crore during the year under review from Rs 74.20 crore in the last year.
The board of directors has recommended a dividend payment of Rs 2 (20 per cent) per share for the year 2008-09.
Shares of the the bank closed at Rs 26.65, down 4.82 per cent from the previous close on the BSE.