AREVA T&D India Limited, the Indian subsidiary of AREVA France SA, has reported a 34.2 per cent drop in net profit after tax at Rs 55.24 crore for the quarter ended December 31, 2008 compared to Rs 83.91 crore for the corresponding quarter in the previous financial year.

However, the company's total income surged from Rs 740.49 crore for the quarter ended December 31, 2007 to Rs 938.84 crore for the quarter ended December 31, 2008.

For the year ended December 31, 2008, the company recorded a net profit after tax of Rs 226.32 crore compared to Rs 216.30 crore for the previous year.

In addition, the company's total Income has also been increased from Rs 2023.15 crore for the year ended December 31, 2007 to Rs 2655.45 crore for the year ended December 31, 2008.

The Board of Directors of the Company has recommended Dividend at the rate of 90% (Rs 1.80 per share) for the year ended December 31, 2008, subject to approval of the shareholders.

The scrip of the company slipped 3 per cent to Rs 182 at the close of Friday's trading with over 220,000 shares changing hands on the BSE.