Bimetal Bearings disclosed a substantial rise in standalone net profit for the quarter ended March 2008. During the quarter, the profit of the company rose 31.03% to Rs 34.29 million from Rs 26.17 million in the same quarter last year.

The company posted earnings of Rs 8.96 a share during the quarter, registering 30.99% growth over previous year period.

Net sales for the quarter rose 29.49% to Rs 288.62 million, while total income for the quarter rose 27.71% to Rs 318.43 million, when compared with the prior year period.




During the quarter, the company announced a rise in operating margin of 180.99 basis points to 11.11% on lower input cost. Interest cost increased 4.88 times to Rs 0.78 million while depreciation cost fell 10.27% to Rs 10.22 million over previous year period.

The board of directors of Bimetal Bearings, (Q, N,C,F)* at its meeting held on Jun. 18, 2008, has recommended a dividend of 70% for the year ended Mar. 31, 2008.

Shares of the company were last trading down Rs 0.85, or 0.42%, at Rs 200. The total volume of shares traded at the BSE was 21. (11.20 a.m., Thursday)

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