According to an official release by the company today, net profit for the quarter ended March 2006 fell 13% to Rs 9.02 crore from Rs 10.36 crore a year ago. The turnover for the quarter ended March 2006 was Rs 74.18 crore down from Rs 93.26 crore in the corresponding previous quarter.
The decrease in turnover was due to the phasing out of international trade, which had seen volatile margins, the rise in net profit was on account of Rs 11 crore received by way of selling the shares of ING Vysya, Rao said.
The company has proposed an increased dividend of 25% for FY06 as compared to 20% in FY05. The earnings per share for FY06 stood at Rs 10.08 per share as compared to Rs 5.61 per share, a year ago, the release said.
