Asian Paints Q4 net up three-fold, declares dividend

Mumbai:Asian Paints today posted over three-fold increase in net profit at ₹ 71.15 crore for the fourth quarter ended 31 March, as compared to ₹ 0.28 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 ₹ 5.50 per equity share (55%) approved by the board on 30 October 2006 and the second interim dividend of ₹ .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 ₹ 66.60 crore for the fourth quarter ended 31 March, as against ₹ 6.57 crore for the same quarter ended 31 March 2006.

The total income of the group increased to ₹ 72.55 crore for the quarter ended 31 March from ₹ 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.

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