Gwalior Chemical Industries, a manufacturer of niche chemical products, today reported a 6.64 per cent decline in its net profit at Rs 6.32 crore for the quarter ended March 31, 2009, over the same period last year.
The company had a net profit of Rs 6.77 crore in the same quarter ended March 2008, Gwalior Chemical said in a filing to the Bombay Stock Exchange.
Net sales declined to Rs 78.20 crore for the quarter ended March 2009, from Rs 85.74 crore in the same quarter corresponding year.
For the year ended March 31, 2009, the company has posted a consolidated net profit of Rs 26.86 crore, up 10.80 per cent from Rs 24.24 crore in the same period last year.
The board of directors of the company has proposed a dividend of Rs 1.20 a piece, the filing added.
Shares of the company surged 5 per cent to hit the upper circuit at Rs 108.15 on the BSE.