Monnet Ispat has declared that its board meeting will be held on Apr. 28, 2008 to consider and approve financial results for the quarter ended Mar. 31, 2008.

The board will also consider and recommend interim dividend for the financial year 2007-08.

Monnet Ispat and Energy posted a steep fall in standalone net profit for the quarter ended December 2007.

During the quarter, the profit of the company rejected 22.03% to Rs 336.60 million from Rs 431.70 million during the corresponding period of the last year.

The company reported earnings of Rs 8.03 per share during the quarter, registering 36.12% decline over prior year period.

Net sales for the quarter climbed 59.89% to Rs 2,881.90 million, whilst total income for the quarter zoomed 56.59% to Rs 2,929.50 million, when compared with the prior year period.

Shares of the company gained Rs 6.4, or 1.33%, to end at Rs 486.35. The total volume of shares traded was 7,807 at the BSE. (Thursday)