Himatsingka Seide posts Q4 net profit up 32 pc at Rs 43 cr

Textiles firm Himatsingka Seide today reported 31.91 per cent rise in net profit to Rs 43.57 crore for the fourth quarter ended March.
The company's net profit stood at Rs 33.03 crore in the corresponding quarter of the last fiscal.
Himatsingka Seide's net total revenue grew 55.67 per cent to Rs 404.05 crore in the January-March period, compared to Rs 259.54 crore in the corresponding quarter of the previous fiscal.
However, total expenses of the company rose to Rs 337.25 crore during the quarter under review, as against Rs 209.74 crore in the corresponding period last year.
Its board of directors approved declaration of final dividend of Rs 2.50 per equity share of Rs 5 each for the financial year 2016-17, the company informed BSE in a filing.

The board in a meeting yesterday also accepted the resignation of Berjis M Desai as an independent director and the resignation of Aditya Himatsingka as executive director of the company.
The company's scrip closed 3.19 per cent down at Rs 318.80 apiece on BSE.