The Hindu Business Line : Bhagyanagar Metals to offer 1:1 bonus

The board of directors of Bhagyanagar Metals Ltd on Tuesday decided to issue bonus shares in the ratio of 1:1 and a dividend of 30 per cent for 2005-06. According to a statement from the company's Managing Director, Mr Narender Surana, the decision was taken based on its performance and future business prospects. The company annual general meeting is slated for August 7. The company recorded income of Rs 202.80 crore with a net profit of Rs 25.96 crore for the financial year ended March 31, 2006, as against income of Rs 158.45 crore and a net profit of Rs 26.96 crore for the previous year. The earnings per share for the year was Rs 7.29. For the quarter ended March 31, 2006, the company recorded income of Rs. 61.62 crore (Rs 29.63 crore) and a net profit of Rs 8.99 crore (Rs 7.27 crore).

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Bhagyanagar Metals to offer 1:1 bonus