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Berger Paints reported a 21.04 per cent decline in standalone net profit to Rs 74.97 crore for the fourth quarter ended March, on account of exceptional cost of Rs 28 crore.
It had reported a net profit of Rs 94.95 crore in the year-ago period.
During the quarter under review, the company's total income increased by 7.91 per cent to Rs 1,151.57 crore, against Rs 1,067.08 crore in the corresponding quarter of 2015-16, Berger Paints said in a BSE filing.
Berger Paints reported an exceptional cost of Rs 28 crore for provisioning towards impairment of investments in a wholly-owned subsidiary in the last quarter of the previous fiscal.
The board has recommended a dividend of Rs 1.75 per equity share for fiscal 2016-17.
Shares of the company closed 0.43 per cent down at Rs 255.95 on BSE.