The board of directors of ABC Bearings, at its meeting held on May 06, 2008, has recommended dividend at 40% to the shareholders of the company.

A B C Bearings reported a marginal decline in stand alone net profit for the quarter ended March 2008. During the quarter, the profit of the company declined 7.71% to Rs 43.83 million from Rs 47.49 million in the same quarter, last year. The company reported earnings of Rs 3.79 a share during the quarter, registering 7.79% decline over prior year period.

Net sales for the quarter rose 8.44% to Rs 489.67 million, while total income for the quarter rose 6.22% to Rs 495.87 million, when compared with the prior year period.

Shares of the company declined Rs 2.4, or 2.56%, to trade at Rs 91.35. The total volume of shares traded was 8,876 at the BSE.

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