IVRCL Infra. declares 50% dividend
IVRCL Infra. declares 50% dividend The members of IVRCL Infrastructures & Projects at the annual general meeting (AGM) declared 50% dividend for the year ended Mar. 2007. The members increased the borrowing powers of the company from Rs 37,500 million to Rs 50,000 million. >The members also approved the Employees stock Option Scheme (ESOP-2007) for grant of options numbering 42,00,000 convertible into 42,00,000 equity shares of Rs 2/- each to the employees of the company as well as its subsidiaries. The company announced phenomenal jump in net profit for the quarter ended June 2007. During the quarter, the company reported 74.65% rise in profit to Rs 379.60 million from Rs 217.35 million in the corresponding quarter last year. Net sales for the quarter rose 58.78% to Rs 6,773.18 million, compared with the corresponding quarter, a year ago. Shares of the company closed u p Rs 4.8, or 1.16%, at Rs 410.30. The total volume of shares traded were 186,532 at the BSE . (Monday).
