The company’s stock gained almost 8 per cent to Rs 161.70 on Friday from Rs 150.25 at the beginning of the week, after the company has reported a 60 per cent jump in net profit for the year ended March 2009.
The company posted a net profit of Rs 209.44 crore (Rs 130.66 crore) on a consolidated basis, while sales rose 75 per cent to Rs 818.52 crore (Rs 468.08 crore) in the year.
The board of directors of the company has recommended dividend at Rs 4 per share (40 per cent) on increased capital after a7:10 bonus share issue. In the previous year, the company had paid dividend at Rs 5 a share (50 per cent).
