(February 17, 2011)

Fag Bearings India Ltd. reported fourth-quarter net profit of Rs.33.75 crore, up by 105 percent from the Rs.16.45 crore in the year-ago quarter. Earnings per share for the quarter was Rs.20.31.

Net revenue for the quarter rose was Rs.262.60 crore from the Rs.216.25 crore in the corresponding quarter of the preceding year, reflecting a 21 percent growth. while other operating income was Rs.3.54 crore, compared with Rs.3.09 crore in Q3FY10.

The company said its board recommended a dividend of 50 percent or Rs.5.00 per equity share of Rs.10 each for the fiscal year 2010.

At the BSE, Fag Bearings closed Thursday's trading at Rs.841, up by 3.19 percent from the previous close.

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