Mumbai , May 22 Crane hiring company Sanghvi Movers today posted 8 per cent rise in net profit at Rs 25.6 crore for the fourth quarter ended March 31, 2009, compared to the same period a year ago.

In the Q4 of FY's 2008 the company had a net profit of Rs 23.7 crore, it said in a release.

Sanghvi Movers's net sales stood at Rs 94 crore in the period under review against Rs 79.2 crore in the year-ago period, up 18.69 per cent, it added. The company's board has recommended a 100 per cent dividend on face value of Rs 2 per equity share for FY'09, subject to approval of members. For fiscal 2009 it had a 39.1 per cent net profit growth rate at Rs 101.1 crore, against Rs 72.7 crore in the year-ago period. Sanghvi Movers Chairman and Managing Director Chandrakant Sanghvi, said"in spite of the slowdown in the economy, we could achieve growth of over 40 per cent (past fiscal) and a capex of more than Rs 200 crore as targeted."

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