Mumbai-based automotive company Premier, today announced a 151 per cent jump in net profit at Rs 3.84 crore for the quarter ended March 31, 2010 as a against a net profit of Rs 1.53 crore posted in the same quarter a year earlier.
The increase in profit was mainly on the back of the launch of its low-cost five seater sports utility vehicle Rio.
It reported net sales of Rs 51.25 crore for the reporting quarter, an increase of 33 per cent as compared to Rs 38.42 crore reported in the corresponding quarter a year ago.
The company has recommended a dividend of 27 per cent or Rs 2.7 per share for the year.
