Piramal Glass Q4 net surges three-fold to Rs 32.71 cr

NEW DELHI: Piramal Glass today said its consolidated net profit surged nearly three-fold to Rs 32.71 crore for the fourth quarter ended March 31, 2011, over the same period previous fiscal.

The company's net sales rose to Rs 328.86 crore for the fourth quarter ended March 31, 2011, compared to Rs 283.55 crore in the same period last fiscal, Piramal Glass said in a filing to the Bombay Stock Exchange (BSE).

The company's board has recommended a dividend of Rs 3.50 per share of Rs 10 each (35 per cent) for the financial year ended March 31, 2011.

For the year ended March 31, 2011 the company posted a net profit of Rs 93.02 crore, compared to Rs 4.43 crore in the last fiscal.

The company's net sales rose to Rs 1,218.46 crore for the year ended March 31, 2011, compared to Rs 1,103.92 crore in the last fiscal.

Shares of Piramal Glass were today trading at Rs 129.70 on the Bombay Stock Exchange in the late afternoon trade, down 2 per cent from its previous close.