Somany Ceramics Q4 net up 10%

Somany Ceramics today said its net profit rose by 9.20% to Rs 7.95 crore for the fourth quarter ended March 31, 2011, over the same period previous fiscal.

The company had a net profit of Rs 7.28 crore in the same period previous fiscal, Somany Ceramics said in a filing to Bombay Stock Exchange (BSE).

The company's net sales rose to Rs 237.69 crore for the fourth quarter, compared to Rs 179.13 crore in the same period previous fiscal.

For the year ended March 31, 2011, the company posted a net profit of Rs 23.43 crore, as against Rs 20.46 crore in the previous fiscal.

Commenting on the results Somany Ceramics Ltd Joint Managing Director Abhishek Somany said: "Our current financial results indicate a strong performance on account of sales which has grown by 32.34%."

"We have initiated various cost control measures to keep a check on the increasing input costs. This will help us in improving our profitability for the next fiscal year," Somany added.

The company's net sales for the year increased to Rs 710.58 crore, compared to Rs 536.94 crore in the previous fiscal.

The company's board, which met today, has recommended a dividend of Rs 0.70 per share (35%) on equity shares for the year ended March 31, 2011.

On a consolidated basis, the company posted a net profit of Rs 23.86 crore for the year ended March 31, 2011, compared to Rs 20.39 crore in the previous fiscal.