Pidilite Industries shares surged over 4 per cent on Friday after the adhesives and industrial chemicals manufacturer reported a 48.97 per cent increase in standalone net profit at Rs 115.04 crore for the quarter ended March 2016. It had posted a net profit of Rs 77.22 crore in the same period last year.
At 10.57 am, Pidilite Industries shares were trading 3.56 per cent up at Rs 638.50 on BSE. The scrip opened at Rs 630.10 and has touched a high and low of Rs 641.80 and Rs 629.30, respectively, in trade so far. Shares of the company ended 5.97 per cent up at Rs 653.35.
The company’s total income from operations also increased 12.26 per cent to Rs 1,086.91 crore during the January-March quarter as against Rs 968.13 crore a year ago.
For the full fiscal, Pidilite Industries’ standalone net profit rose 40.08 per cent to Rs 703.04 crore as against Rs 501.86 crore in the previous fiscal.
Its total income from operations also increased 7.64 per cent to Rs 4,734.50 crore in 2015-16 as against Rs 4,398.07 crore in 2014-15.
The company also approved a final dividend of Rs 0.50 per share of Re 1 each for the financial year ended March 31, 2016.
“Together with the interim dividend of Rs 3.65 per share, the total dividend works out to Rs 4.15 per share of Re 1 each,” Pidilite Industries said.