Gwalior Chemical Industries, a manufacturer of niche chemical products, today reported a 6.64 per cent decline in its net profit at Rs 6.32 crore for the quarter ended March 31, 2009, over the same period last year.     

The company had a net profit of Rs 6.77 crore in the same quarter ended March 2008, Gwalior Chemical said in a filing to the Bombay Stock Exchange.     

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For the year ended March 31, 2009, the company has posted a consolidated net profit of Rs 26.86 crore, up 10.80 per cent from Rs 24.24 crore in the same period last year.     

The board of directors of the company has proposed a dividend of Rs 1.20 a piece, the filing added.     

Shares of the company surged 5 per cent to hit the upper circuit at Rs 108.15 on the BSE.

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