Kajaria Ceramics today reported 4.72 per cent increase in net profit at Rs 72.17 crore for the fourth quarter ended March 31, 2017. The company had posted a net profit of Rs 68.92 crore in the comparable quarter previous fiscal. Total income for the quarter stood at Rs 812.02 crore as compared to Rs 743.37 crore in the year-ago period, up 9.23 per cent, Kajaria Ceramics said in a BSE filing. For the fiscal ended March 31, 2017, the company said its net profit was at Rs 253.81 crore as compared to Rs 236.11 crore in the previous fiscal, up 7.5 per cent. Total income for 2016-17 stood at Rs 2,869.67 crore as against Rs 2,711.01 crore in the previous year, a growth of 5.85 per cent, it added. The board of directors of the company has recommended a dividend of Rs 3 per equity share of face value of Re 1 each for the financial year ended March 31, 2017. It also gave nod to the acquisition of 1.90 lakh equity shares of Rs 100 each of Floera Ceramics Pvt Ltd, a subsidiary company, at a consideration aggregating to Rs 3.61 crore. The company said the board also approved expansion of manufacturing capacity at its Gailpur plant in Rajasthan by 3.50 msm per annum, taking the total ceramic tile capacity to 22.40 msm per annum from 18.90 msm per annum. The expansion is expected to be completed by September, 2017, it added. Shares of Kajaria Ceramics were trading 4.33 per cent higher at Rs 716.25 apiece on BSE today.
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