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Mumbai, April 30 Tyre maker Ceat Ltd recorded 228 per cent rise in the profit on the back of one-time gain of property sale in the last quarter of financial year 2008. The company posted a net profit of Rs 76.93 crore for the quarter March 2008, against Rs 23.41 crore for the corresponding period last year.

The company had gained Rs 61 crore from the sale of property during this period. The gross turnover for the quarter stood at Rs 722 crore (Rs 631 crore), up by 14 per cent.

The board has recommended a dividend of Rs 4 per share (Rs 1.80). The company has announced Rs 2 per share as the normal dividend and a special dividend of Rs 2 as this is the Golden Jubilee year, said a release here.

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