For the financial year 2007-08, Gruh Finance has announced a dividend of Rs 4 per share on equity shares of Rs 10 each.

The company’s board has taken the decision at its meeting held on Apr. 11, 2008.

For the quarter ended March 2008, Gruh Finance recorded a 12.52% growth in net profits to Rs 204.00 million, as against Rs 181.30 million in the corresponding quarter a year ago.

Net sales climbed 24.51% to Rs 624.90 million for the quarter ended March 2008 from Rs 501.90 million for the quarter ended March 2007.

Gruha Finance is involved in providing housing finance to the rural and semi urban areas. Promoted by HDFC bank (61.52% stake), the company was incorporated on Jul. 21, 1986 as Gujarat Rural Housing Finance Corporation, became a public listed company on Jan. 8, 1993 and got its current name on Aug. 21, 1995.

At 2:51 pm, shares of the company gained Rs 2%, to trade at Rs 158.3 at the Bombay Stock Exchange (BSE).