Binani Industries FY'09 net dips 29% at Rs 110 cr

Diversified industrial house Binani Industries today said its net profit for the year ended March 31, 2009, declined by 28.60 per cent to Rs 109.78 crore. 

The company had a net profit of Rs 153.77 crore in the year ended March 2008, Binani Industries said in a filing to the Bombay Stock Exchange.  

Net sales of the company rose to Rs 2,302.58 crore during the period under review, as against Rs 1,507.93 crore in the same period last fiscal.  

The board of directors of the company has approved a dividend of Rs three a piece (30 per cent), subject to requisite approval.   

Further, Binani Industries has inducted Nidhi Binani as an Additional Director on the board of the company.    

Consolidated financial result of the company includes its subsidiaries -- Binani Cement, Binani Zinc, Goa Glass Fibre, BT Composites, Wada Industrial Estate and its wholly-owned subsidiaries, the filing added.  

Binani Industries is engaged in the business of cement, zinc, glass fibre among others.      

Shares of Binani Industries were trading at Rs 46.25, up 3.82 per cent on the BSE.