Somany Ceramics Ltd reported an increase of 9.2 per cent in its net profit for the fourth quarter ended March 31, at Rs 7.95 crore, compared to Rs 7.28 crore of the same period last year on growing sales. The net sales for the quarter increased by 32.6 per cent at Rs 237.69 crore (Rs 179.13 crore). “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,” said Mr Abhishek Somany, Joint Managing Director.
For the year ended March 31, the company reported a net profit of Rs 23.43 crore (Rs 20.46 crore). Net sales for the year were reported at Rs 710.58 crore (Rs 536.94 crore). The company's board recommended a dividend of Rs 0.70 a share (35 per cent) on equity shares for the year ended March 31, 2011. “We aim to grow more than 30 per cent in the FY 2011-12 and will invest accordingly for expanding our business operations and upgrading our manufacturing facilities,” said Mr Somany.