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New Delhi, April 25 SRF Ltd today reported a profit after tax (PAT) of Rs 139 crore on a revenue of Rs 1,615 crore for 2007-08.

The company’s revenues declined 10.4 per cent from Rs 1,802 crore and net profit by 52 per cent from Rs 289 crore recorded during the last financial year.

SRF’s audited results for 2007-08 were taken on record by the board of directors this afternoon. The company today announced a final dividend of 20 per cent.

Earlier, the board had approved an interim dividend at the rate of 30 per cent. The company’s EPS stands at Rs 20.44 for the year.

The board has also approved buyback of shares of the company up to Rs 70 crore at a price not exceeding Rs 160 per share from open market.

Commenting on the performance, Mr Ashish Bharat Ram, Managing Director of the company said, “The company has been through a very tough phase over the past year. With clear signals that demand supply parameters are changing in both technical textiles and packaging films, we expect to have a substantially better year ahead.”

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