AIA Engineering proposes 40 percent dividend

June 4th, 2008 - 7:29 pm ICT by IANS  

Ahmedabad, June 4 (IANS) City-based AIA Engineering Ltd (AIAE) announced Wednesday that it has posted a 32.14 percent increase in net sales income at Rs.6.98 billion ($166 million) and a 41.29 percent rise in net profit after tax for the 2007-08 fiscal. The company has also proposed a dividend of 40 percent.

AIAE is engaged in manufacturing abrasion and corrosion resistant critical high chrome components, collectively called mill internals with applications in cement, mining and thermal power equipment.

The company’s net sales income rose to Rs.2.04 billion in the January-March 2008 quarter as compared to Rs.1.53 billion of the year-ago period, a 33.35 percent increase.

The net profit in the same period was registered at Rs.440 million against Rs.23.1 million, recording a 900 percent jump.

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