Asian Paints has reported a net profit of Rs 71.15 crore for the quarter ended March 31, 2007, 250.86% higher as compared to Rs 20.25 crore for the corresponding quarter in 2006. Net sales for the quarter were Rs 727.02 crore, 24.38% higher as compared to Rs 584.48 crore for the corresponding quarter in 2006.The company also announced its results for FY07. The company posted a net profit of Rs 272.04 crore for the year, 45.64% higher as compared to Rs 186.78 crore in FY06. Net sales for the year were Rs 2821.29 crore, 21.65% higher as compared to Rs 2319. 15 crore in the previous year.Net sales include income arising out of processing charges for products manufactured for the joint venture unit, Asian PPG Industries and wholly owned subsidiary, Asian Paints Industrial Coatings as well as lease rentals towards leasing of tinting machines to dealers and revenue from Home Solutions operations.The consolidated net profit for the quarter is Rs 66.60 crore and total income Rs 776.73 crore. Consolidated net profit for the year was Rs 281.03 crore and total income Rs 3053.06 crore.The board of the company at its meeting held today, inter alia, has recommended the payment of final dividend of Re 1.00 per share (10%) for FY07. With this, the total dividend for FY07 aggregates to 130%, according to an official release issued by the company to the BSE today.
