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Pune July 30

Praj Industries has recorded total income of Rs 158.28 crore for the first quarter of the current fiscal against Rs 81.20 crore for the same period last year. The profit before tax stood at Rs 38.14 crore (Rs 10.97 crore) and profit after tax was Rs 28.35 crore (Rs 8.40 crore). After adjusting for forex gains of Rs 17.06 crore, growth in income is at 70 per cent while PBT and PAT growth is 90 per cent. The board of directors has authorised the allotment of 1:1 bonus shares . According to Mr Pramod Chaudhari, Chairman and Managing Director, Praj Industries, the board has passed a resolution to raise funds, not exceeding $125 million for financing the company’sgrowth and expansion plans.

— Our Bureau

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