The Gujarat-based company had posted a net profit of Rs 17.3 crore during the corresponding quarter last year.
Its net sales grew 90.97 per cent to Rs 230.39 crore in the quarter ended March 2016, as against Rs 120.64 crore in the fourth quarter of 2014-15.
For the full fiscal, the company's net profit increased to Rs 50.56 crore from Rs 29.94 crore in the previous fiscal.
Net sales stood at Rs 556.7 crore in 2015-16 as against Rs 359.74 crore in the previous financial year.
Shares of the company closed 7.39 per cent lower at Rs 498 on BSE.
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