State-owned natural gas transmission company Gujarat State Petronet (GSPL) today said its net profit grew 39.65 per cent to Rs 150.63 crore in the fourth quarter ended March 31, 2011, over the corresponding period a year ago.
The company had a net profit of Rs 107.86 crore in the same period last fiscal, GSPL said in a filing to the Bombay Stock Exchange (BSE).
Total income decreased to Rs 258.02 crore in the quarter under review from Rs 266.78 crore in the same period last year.
For the year ended March 31, 2011, its net profit rose to Rs 506.38 crore from Rs 413.76 crore in the 12-month period last fiscal.
Total income surged to Rs 1,046.51 crore in the year under review from Rs 1,000.86 crore a year ago.
The board of directors recommended a final dividend of Re 1 apiece on an equity share of Rs 10 each for the financial year 2010-11.
The board approved allotment of 31,707 equity shares under employees stock option scheme - 2005, it said.
The paid up equity capital of the company stood increased to over Rs 562.61 crore, it added.
GSPL is a pioneer in developing energy transportation infrastructure and connecting natural gas supply basins and LNG terminals to growing markets.
The Gujarat-based firm is continuously expanding its pipeline network to reach the demand centres by laying gas pipeline network.
The company has developed requisite expertise and confidence with proven project management competencies.
Shares of the company closed at Rs 96.85, marginally down from the previous close on the BSE.
