 "Akzo Nobel India gains on special dividend")
Akzo Nobel India has rallied 6% to Rs 1,440 on the BSE after the board has recommended a special dividend of Rs 50 per share.
The board has also recommended a dividend of Rs 20 per share, taking total dividend of Rs 70 per share for the year ended March 31, 2016 (previous year: Rs 20 per share).
The company engaged in specialty chemicals business however posted 17.8% year on year growth in net profit at Rs 53 crore for the quarter ended March 31, 2016 (Q4). The company’s income from other sources declined to Rs 9 crore from Rs 14 crore in the previous year quarter.
Commenting on Q4 results, Jayakumar Krishnaswamy, managing director, AkzoNobel India said “In a challenging environment, we saw growth momentum picking up in the latter half of the year. Q4 was strongest with a revenue growth of 14% and profit from operations growing by 52% over last year.”
At 02:28 pm, the stock was up 5% at Rs 1,427 on the BSE. A combined 55,087 shares changed hands on the counter on the BSE and NSE.
The board has also recommended a dividend of Rs 20 per share, taking total dividend of Rs 70 per share for the year ended March 31, 2016 (previous year: Rs 20 per share).
The company engaged in specialty chemicals business however posted 17.8% year on year growth in net profit at Rs 53 crore for the quarter ended March 31, 2016 (Q4). The company’s income from other sources declined to Rs 9 crore from Rs 14 crore in the previous year quarter.
Commenting on Q4 results, Jayakumar Krishnaswamy, managing director, AkzoNobel India said “In a challenging environment, we saw growth momentum picking up in the latter half of the year. Q4 was strongest with a revenue growth of 14% and profit from operations growing by 52% over last year.”
At 02:28 pm, the stock was up 5% at Rs 1,427 on the BSE. A combined 55,087 shares changed hands on the counter on the BSE and NSE.