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Binani Industries profit dips 29%

Binani Industries profit dips 29%
PTI
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First Published: Fri, Apr 24 2009. 03 00 PM IST
Updated: Fri, Apr 24 2009. 03 00 PM IST
Mumbai: Diversified industrial house Binani Industries on Friday said its net profit for the fiscal year ended 31 March 2009, declined by 28.60% to Rs109.78 crore.
The company had a net profit of Rs153.77 crore in the year ended March 2008, Binani Industries said in a filing to the Bombay Stock Exchange (BSE).
Net sales of the company rose to Rs2,302.58 crore during the period under review, as against Rs1,507.93 crore in the same period last fiscal.
The board of directors of the company has approved a dividend of Rs3 a piece (30%), subject to requisite approval.
Further, Binani Industries has inducted Nidhi Binani as an additional director on the board of the company.
Consolidated financial result of the company includes its subsidiaries - Binani Cement, Binani Zinc, Goa Glass Fibre, BT Composites, Wada Industrial Estate and its wholly-owned subsidiaries, the filing added.
The company is engaged in the business of cement, zinc, glass fibre among others.
Shares of Binani Industries were trading at Rs46.25, up 3.82% on the BSE.
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First Published: Fri, Apr 24 2009. 03 00 PM IST