Mumbai: Tata group's product design arm Tata Elxsi on Tuesday said its consolidated net profit for the fourth quarter ended March 31, 2009, rose by 31.45 per cent to Rs 23.12 crore.

The company had a net profit of Rs 17.58 crore in the same quarter ended March 31, 2008, Tata Elxsi said in a filing to the Bombay Stock Exchange.

The net income from operations of the company declined to Rs 106.44 crore for the quarter under review as against Rs 111.97 crore in the same quarter last fiscal.

For the year ended March 31, 2009, the company has posted a net profit of Rs 58.15 crore against Rs 52.84 crore in the previous fiscal, up 10.04 per cent.

The board of directors of the company has proposed a dividend of Rs 7 (70 per cent) for the year ended March 31, 2009, subjected to the approval of shareholders, the filing added.

Shares of Tata Elxsi were trading at Rs 112, up 7.85 per cent on the BSE