Mumbai:Asian Paints today posted over three-fold increase in net profit at Rs 71.15 crore for the fourth quarter ended 31 March, as compared to Rs20.28 crore for the same quarter last year.
The total income grew 27.86% to Rs740.26 crore for the quarter from Rs578.93 crore for the corresponding quarter a year ago, Asian Paints informed the Bombay Stock Exchange.
The board of directors at its meeting today declared 10% final dividend of one rupee on shares of Rs10 each for the financial year ended 31 March, 2007.
Together with the first interim dividend of Rs 5.50 per equity share (55%) approved by the board on 30 October 2006 and the second interim dividend of Rs6.50 per equity share (65%) on 13 March 2007, the total dividend aggregates to 130% for the fiscal.
For the year ended 31 March, the company posted a net profit (after prior period items) of Rs272.04 crore as compared to Rs186.78 crore for the period under consideration last year and the total income increased to Rs2,861.74 crore from Rs2,355.08 crore.
The group posted a net profit of Rs 66.60 crore for the fourth quarter ended 31 March, as against Rs46.57 crore for the same quarter ended 31 March 2006.
The total income of the group increased to Rs972.55 crore for the quarter ended 31 March from Rs 776.73 crore in the year-ago period.
For the year ended 31 March the group recorded a net profit of Rs281.03 crore as against Rs212.14 crore a year ago and the total income grew to Rs3,707.22 crore from Rs3,053.06 crore.