NEW DELHI: Information Technologies India Ltd (ITIL) today announced a bonus issue to shareholders in the ratio of one share for every share held (1:1).

The company registered a 235.6 per cent increase in its net profits to Rs 36.53 crore for the year ended May 31, as against Rs 10.88 crore in the previous year, a company statement said. ITIL's net sales also shot up during the year by 149 per cent to Rs 122.74 crore compared to Rs 49.28 crore the year before.

The board of ITIL, which met today to take on record the audited financial results for the year, also recommended a 10 per cent dividend for the year 1998-99. Due to the improved performance during the year, the reserves excluding revaluation reserves of the company increased by 190 per cent to Rs 96.16 crore from Rs 33.07 crore, the statement said.