Printing ink manufacturing firm DIC India today recorded nearly a seven-fold rise in net profit for the quarter ended June 30, 2010, at Rs 30.3 crore over the same quarter last fiscal.
The company, a subsidiary of Japan's Dainippon Ink and Chemicals, had an extra-ordinary gain of Rs 25.11 crore during the quarter, by way of diluting its entire stake in an unlisted firm, DIC Coatings India.
DIC India had reported Rs 4.4 crore net profit during the June quarter of the last fiscal, it said in a statement.
Net sales of the company increased by 18 per cent during the reporting quarter at Rs 137.3 crore over Rs 115.57 crore in the year-ago period.