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Hyderabad, Sept 5

Prajay Engineers Syndicate, a construction company, has announced that its board has recommended a dividend of 20 per cent for 2005-06. In a release, the company said that the dividend comes on the back of strong results for the quarter ended June 30, where it reported an increase of about 154 per cent in income from operations, up from Rs 14.63 crore to Rs 37.16 crore. Net profit rose to Rs 13.24 crore (Rs 5.77 crore), recording a growth of 129.53 per cent. This has resulted in an EPS of Rs 7.11 (Rs 4.95), up 43.63 per cent, on an expanded equity base.

(This article was published in the Business Line print edition dated September 6, 2006)
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