Shalimar Paints Q1 net up 13.8 pc to Rs 2.31 crore

NEW DELHI: Shalimar Paints today posted a 13.8 per cent increase in its net profit to Rs 2.31 crore for the quarter ended June 30, 2011, as against the same period last fiscal.

The company had recorded a net profit of Rs 2.03 crore in the quarter ended June 30, 2010, Shalimar Paints said in a filing to the Bombay Stock Exchange (BSE).

During the reporting quarter, the company had a net sales of Rs 100.75 crore, a 22 per cent increase from Rs 82.35 crore in the year-ago period.

For the year-ended March, 2011, Shalimar Paints' net profit stood at Rs 11.67 crore, while it had a net sales of Rs 404.44 crore.

Shares of Shalimar Paints closed at Rs 489.80 on the BSE, up 3.96 per cent from the previous close.