Pidilite Ind FY11 net rises 12% to Rs 310 cr

MUMBAI: Chemicals and adhesive maker Pidilite Industries Ltd today said its consolidated net profit grew nearly 12 per cent to Rs 310.05 crore in the year ended March 31, 2011, over the previous fiscal.

The group had a net profit Rs 276.96 crore in the last fiscal, Pidilite Industries said in a filing with the Bombay Stock Exchange.

Consolidated total income increased to Rs 2,672.13 crore in the year under review from Rs 2,215.75 crore in 2009-10.

For the fourth quarter ended March 31, 2011, its standalone net profit declined 46.78 per cent to Rs 29.25 crore from Rs 54.97 crore in the same period last fiscal.

Standalone total income surged to Rs 563.94 crore in the quarter under review from Rs 453.09 crore in the March quarter an year ago.

The Board of Directors recommended a dividend of Rs 1.75 per equity share of Re 1 each at its meeting held on Thursday, it said.

The recommendation of dividend would subject to final approval of the shareholders at the annual general meeting to be held on July 26, it said.

The above dividend would be paid to the shareholders within a period of 30 days from the AGM, it added.

Shares of the company closed today at Rs 153, down 1.32 per cent from the previous close on the BSE.