Mumbai, May 27: Jindal Steel and Power Limited today reported a 92 per cent rise in net profit after tax at Rs 390.33 crore for the fourth quarter ended March 31, 2008 compared with Rs 202.77 crore in the same quarter a year ago.

Net sales of the company grew 45 per cent to Rs 1,522.97 crore against Rs 1,053.92 crore in the corresponding quarter of the previous year.

The company also announced a final dividend of 250 per cent, which is Rs 2.50 for each share of Re 1, taking the total dividend to 400 per cent, that is Rs 4 per share for the entire year.

For the financial year ended March 31, 2008, net profit after tax went up 76 per cent to Rs 1,236.96 crore against Rs 702.99 crore for the financial year 2006-07.

Net sales went up 54 per cent to Rs 5,410.75 crore from Rs 3,519.81 crore the previous year. The company said that improved operational efficiency along with increased production have resulted in better results this quarter.

According to media reports, the company is in talks with Australian coking coal producers to secure supplies for the year starting April 1. The company needs about 1 million tonnes of the fuel annually. Input costs jumped 54 per cent in the quarter from a year ago, according to a company statement.

Jindal is investing $2.1 billion in Bolivia to develop half of El Mutun’s 40-billion-tonne iron ore deposit and set up a 1.7-million-tonne steel mill.