Godrej Inds net dips 12%

Reduction in prices and lower sales saw Godrej Industries quarterly net profit to fall a record 12.26 per cent.

The company's net profit went down to Rs 26.60 crore for the quarter ended March 31 2006, from Rs 30.32 crore for the corresponding quarter in the previous year period.

Net sales for the quarter was Rs 184.74 crore, 11.81 per cent lower compared with Rs 209.49 crore for the same quarter in 2005.

Godrej Industries declared a dividend of Rs 5 a share, which has a face value Rs 6 for the year. The company also announced a stock split.

The net profit for the for the financial year 2005-06, was Rs 71.20 crore, 6 per cent lower as compared with Rs 75.75 crore for 2004-05. Net sales for the period were 2.34 per cent lower at Rs 745.48 crore.