Asian Paints Q4 net halves to Rs 20.28 crore

Mumbai, May 10 (UNI) Asian Paints Ltd has posted a net profit of Rs 20.28 crore for the quarter ended March 31, 2006 as compared to Rs 41.10 crore for the quarter ended March 31, 2005, a decline of 50.65 per cent.

Announcing the results, the company said its total income (net of discounts&excise duty) has increased from Rs 460.13 crore in Q4 FY 04-05 to Rs 578.93 crore for Q4 FY 05-06.

It has posted a profit after tax of Rs 186.78 crore for the year ended March 31, 2006 (FY 05-06) as compared to Rs 173.48 crore for the year ended March 31, 2005 (FY 04-05). Total Income (net of discounts&excise duty) has increased from Rs 1986.17 crore in FY 04-05 to Rs 2355.08 crore for FY 05-06.

The Board of Directors have recommended a payment of final dividend of Rs 5.50 per equity share of Ra 10/- each (55 per cent) for the financial year ended March 31, 2006.

In addition, the Board of Directors have recommended a one-time special dividend of Rs 2.50 per equity share of Rs 10/- each (25 per cent) on the occasion of 60th year of incorporation of the Company.

Together with the interim dividend of Rs 4.50 per equity share (45 per cent) approved by the Board on October 26, 2005, the total dividend aggregates to Rs 12.50 per equity share (125 per cent) for the financial year ended March 31, 2006.

UNI SN ADG SKB1630