Mumbai: Jai Corp today announced a standalone net profit of Rs 38.81 crore for the fourth quarter ended March 31, 2008, a 85.16 per cent growth over the corresponding period a year ago.

The company had a net profit of Rs 20.96 crore in the fourth quarter of fiscal ended 2006-07, Jai Corp said in a filing to the Bombay Stock Exchange.

The total income rose to Rs 147.57 crore in the latest quarter, from Rs 80.73 crore in the same period a year-ago.

For the year ended March 31, the group announced a consolidated net profit of Rs 141.1 crore, a 91.4 per cent growth over the year-ago period.

The group had a net profit of Rs 73.72 crore in the year ended March 31, 2007.

The board has declared a dividend of 100 per cent on over 4.90 equity shares of face value of Re one each, while the promoters have waived their entitlement.

The total income rose to Rs 465.75 crore for the year ended March 31, from Rs 345.7 crore in the year-ago period.

Jai Corp announced a standalone net profit of Rs 128.15 crore for the year ended March 31, while its total income rose to Rs 438.01 crore.

The board has approved the appointment of Anand Jain as a Director of the company.

The company is engaged in manufacturing businesses like steel, plastic processing and spinning yarn. Presently, it is investing in emerging opportunities like developing SEZs, infrastructure, venture capital and real estate.

Shares of Jai Corp were trading at Rs 639 in morning, down five per cent on the BSE.
Source : PTI