Sesa Goa board approves stock split, bonus issue; pays 450 per cent

The board of Sesa Goa Ltd, at its meeting held on 28 April, has recommended sub-division of its equity shares of the face value of Rs10 each to shares with face value of Re1 each.

The board also recommended issue of bonus shares in the proportion of one bonus share of Re1 for every fully paid-up equity shares of Re1 each, Sesa Goa said in filing with the Bombay Stock Exchange.

The board of directors of the company also recommended a final dividend of Rs30 per share (300 per cent) on the existing capital in addition to interim dividend of Rs15 per share (150 per cent).

The same amount of final dividend would be payable to recipients of company's shares on approval of merger of Sesa Industries Ltd (SIL) with the company with effect from 1 April 2005, the company said.

For the quarter ended 31 March 2008, the company posted a profit after tax of Rs798.3 crore as compared to Rs252.3 crore for the quarter ended 31 March 2007. Total income for the quarter increased to Rs1,670.9 crore from Rs772.4 crore in the same quarter in the previous financial year.

For the year ended 31 March 2007-08, the company posted a profit after tax of Rs1,492 crore as compared to Rs606.4 crore for the year ended 31 March 2006-07. Total income for the year increased to Rs3,672.4 crore from Rs2,049.4 crore for the previous year.

The group posted a net profit of Rs811.6 crore for the quarter ended 31 March 2008 as compared to Rs263.3 crore for the quarter ended 31 March 2007. Total income increased to Rs1,732.3 crore from Rs832.2 crore for the same quarter of the previous year.

Net profit rose to Rs1,541.6 crore for the year ended 31 March 2008 as compared to Rs646.1 crore for the year ended 31 March 2007. Total income increased to Rs3,897.1 crore from Rs2,263 crore for the previous year.