Nirma recommends 80 % dividend

Nirma, an FMCG major has recommended a dividend of 80 per cent on equity shares for the financial year 2007-08.
 
In a statement to the Bombay Stock Exchange, the company said that the decision was taken in the board meeting on Tuesday.
 
The Rs 2,500 crore company, clocked a net profit of Rs 223.93 crore in FY08, which was more than double the previous year's net profit of Rs 108.40 crore. However, in the June quarter of the current financial year, on the back of rising input costs and high crude prices, company's net profit for the quarter marginally dipped to Rs 39.49 crore against Rs 41.1 crore in the corresponding quarter last year.
 
The company is into consumer products which include soaps, detergents, edible salt and scouring poruducts. Its industrial products include sada ash, sulphuric acid and glycerine. Industrial products is a part of the company's backward integration process.
 
On the Bombay Stock Exchange, the company's shares were trading at Rs 135.45, up 1.54 per cent at IST 1002.