Net sale during the quarter rose by 49.24 per cent to Rs 242.82 crore from Rs 162.70 crore in the previous corresponding quarter. The company also spent Rs 197.63 crore compared with Rs 129.06 crore in the year-ago period.
The higher net profit boosted the company's share price on the Bombay Stock Exchange by 1.89 per cent to Rs 599.9 per share on Tuesday even as the benchmark Sensex fell 100.62 points.
The company has also recommended a dividend of 70 per cent of the paid-up share capital, taking the total dividend for the year to 110 per cent.
For the full financial year ended March 2008 EIL's net profit increased 36.44 per cent to Rs 198.02 crore compared with Rs 145.13 crore in 2006-07. Net sales for the year stood at Rs 753.60 crore, 29.3 per cent higher than the Rs 582.81 crore recorded during the previous financial year. Expenditure increased to Rs 556.78 crore during the year compared with Rs 445.27 crore.