Jindal Stainless FY05 net up 50%

Jindal Stainless has recorded a 50% jump in net profit at Rs 245.85 crore for the year ended March 31, 2005 as compared to Rs 164.19 crore in FY04. Total income (net of excise) has increased from Rs 2,415.88 crore in FY-04 to Rs 3,194.86 crore for the year ended March 31, 2005.

The company has posted a consolidated net profit after tax of Rs 231.98 crore for the year ended March 31, 2005, while the consolidated total income is Rs 3,153.27 crore in FY-05.

According to a release issued by Jindal Stainless to the BSE, the company, which made a payout of 120% for the year ended March 31, 2005, has not recommended any final dividend on equity shares. 

As a result, the paid dividend shall be treated as full and final dividend for the financial year ended March 31, 2005, the release said further.