The Hindu Business Line : Bhagyanagar India net, revenue up

Hyderabad May 16 Bhagyanagar India Ltd has recorded income of Rs 93.20 crore and net profit of Rs 48.78 crore for the fourth quarter ended March 31, against income of Rs 55.92 crore and profit of Rs 8.99 crore in the corresponding previous period.

For the fiscal ended March 31, revenues stood at Rs 248.32 crore (Rs 182.64 crore), while net profit amounted to Rs 70.18 crore (Rs 25.96 crore).

The earnings per share for the whole year stood at Rs 9.46 (Rs 3.50).

Last fiscal, Bhagyanagar, the flagship company of the Surana group, had forayed into wind power generation and installed seven wind turbines with total generating capacity of 9 MW at Kapatguda in Karnataka.

Mr Narender Surana, Managing Director, in a statement said that the board has recommended 30 per cent dividend (60 paise per share of Rs 2 each) on enhanced equity capital for 2006-07.

Principally engaged in copper products and jelly-filled cables, Bhagyanagar has restructured its operations and forayed into real estate and infrastructure.

Part of the increased revenues came from new areas.

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