Gujarat Industries Power FY05 net soars 54%

Gujarat Industries Power has posted a 54% surge in net profit to Rs 103.67 crore for the year ended March 31, 2005 as compared toRs 67.16 crore in FY04. Total income has decreased from Rs 788.17 crore in FY-04 to Rs 777.79 crore for the year ended March 31, 2005.

According to a release issued by Gujarat Industries to the BSE, the company, however, has registered a 73% drop in profit after tax at Rs 13.56 crore for the quarter ended March 31, 2005 as compared to Rs 50.39 crore in the corresponding quarter of the last fiscal. Total income has decreased from Rs 208.47 crore in Q4-04 to Rs 165.60 crore for the quarter ended March 31, 2005.

The Gujarat Industries Power board has recommended a 12% dividend year ended 2004-05, the release said further.