The State-run steel giant Steel Authority of India (SAIL) said on Friday that its fourth quarter’s net profit grew by 25 percent, backed by higher sales. The company has posted a net profit of Rs 2376.8 crore for the quarter ended March 31, 2008 as compared to Rs 1901.8 crore for the quarter ended March 31, 2007.

Its Q4 net sales were up at Rs 13350 crore from 10385 crore, while its Q4 other income was up at Rs 618 crore from Rs 640 crore. The company has posted a net profit of Rs 7536.8 crore for the year ended March 31, 2008 as compared to Rs 6202.3 crore for the year ended March 31, 2007.

In a separate release, the company has ruled out any increase in the prices of its products in the next three months,

The SAIL Board has recommended its highest-ever dividend at 37% on paid-up equity amounting to over Rs 1,500 crore for the company's shareholders for the year 2007-08. This includes the 19% interim dividend paid in February 2008. Previous highest dividend payout was 33% for the year 2004-05.