The members at Annual General Meeting (AGM) of Varun Shipping declared final dividend of 15%, Rs 1.50 a share for the financial year ended Mar. 31, 2007.
The members also adopted the balance sheet and profit and loss account for the year ended Mar. 31, 2007 and also increased the borrowing power limit of the board of directors from Rs 30 billion to Rs 50 billion .
The above decision was taken by the members at the AGM held on Aug.14, 2007.
The net profit of the company increased 5 times to Rs 1,268.25 million for the quarter ended June 2007, as compared with Rs 235.77 million in the corresponding quarter last year.
Net sales rose 31.40% to Rs 1,935.02 million for the quarter ended June 2007 as against Rs 1,472.59 million in the corresponding quarter, a year ago.
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