Corporate Reporter

CHENNAI: Jindal Steel & Power has announced a dividend of Rs. 1.25 per share of Re. 1 each on equity capital enlarged by the issue of bonus shares in the ratio of five shares for one share held against Rs. 5.50 per share on old capital in 2008-09. The company recorded a net profit of Rs. 548.99 crore for the year ended March 31, 2010 against Rs. 356.86 crore, an increase of 54 per cent. Net sales have risen by 35 per cent to Rs. 2,388.84 crore from Rs. 1,764.41 crore. Sales of sponge iron were lower at 3.43 lakh tonnes against 3.86 lakh tonnes, due to higher captive consumption.

Sales of steel products were higher at 18.76 lakh tonnes against 15.15 lakh tonnes.