Jindal Vijayanagar FY05 net at Rs 870cr

Jindal Vijayanagar Steel today reported a  net profit of Rs 870.11 crore
for the year ended March 31, 2005 as compared to Rs 793.38 crore
for the year ended March 31, 2004.

According to a release issued by the company to the BSE today, net sales increased to Rs 6,679.36 crore for the year ended March 31, 2005
from Rs 4,348.84 crore in FY04.

"Figures for the current quarter ended on March 31, 2005 and year ended  March 31, 2005 include the figures of the steel business of the erstwhile Jindal Iron & Steel Company (JISCO) and are therefore, not comparable with the figures of the corresponding period and for the year ended March 31, 2004," the release said.

The company has posted a net profit of Rs 404.14 crore for the quarter ended March 31, 2005 as against Rs 256.82 crore in Q4FY04. Total Income for the quarter ended March 31, 2005 stood at Rs 2,192.39 crore as against Rs 980.11 crore in Q4FY04.

The board has recommended final dividend of 50% for equity shares. "This is in addition to the interim dividend of 30% already declared and paid," the release said.

"The board has fixed May 3, 2005 to May 6, 2005 (both days inclusive) as book closure days for payout and for the purpose of AGM," the release added.