The Hindu Business Line : NRB Bearings Q4 profit up 13.28 pc

NRB Bearings' profit-after-tax has risen by 24.66 per cent to 34.02 crore for 2005-2006 as compared to Rs 27.29 crore posted last year. Gross turnover grew by 19 per cent to Rs 293.26 crore (Rs 246.36 crore). The company reported 17 per cent increase in turnover at Rs 78.91 crore for the fourth quarter ended March 31, 2006 as compared to Rs 67.4 crore in the corresponding quarter last year. Operating profit rose by 13.28 per cent to Rs 17.06 crore (Rs 15.06 crore). It has recommended a final dividend of 50 per cent (on face value of Rs 10) aggregating to Rs 484.62 crore.

Previously the company had paid a dividend of 75 per cent, thus amounting to a total dividend of 125 per cent. SNL Bearings, a subsidiary, made a net profit of Rs 1.06 crore for the year ended March 31, 2005. Shares of NRB ended nearly unchanged at Rs 505 on BSE.

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