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The net profit of Kaveri Seed jumped three-fold to Rs 11.13 crore in the fourth quarter ended March 31, 2013, as the turnover went up to Rs 74 crore (Rs 41.64 crore) on increased seed business.
The profit in the comparable quarter last year was Rs 2.80 crore. The contribution from the seed business almost doubled to Rs 65.64 crore (Rs 35 crore).
For the full year 2012-13, the net profit was put at Rs 130 crore (Rs 58 crore) on a turnover of Rs 711 crore (Rs 372 crore).
The seed division contributed Rs 686 crore (Rs 349 crore). The board of directors has recommended a dividend of 80 per cent (Rs 8 on a share of Rs 10 each) for the financial year 2012-13.
This is in addition to an interim dividend of Rs 8 a share already paid to the shareholders.
The board, which met here on Thursday, has reconstituted the board committees. K. Purushotham, a Director, is appointed as a member of the audit committee, remuneration committee and shareholder grievances committee of the company.
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