HLL FY04 net drops 28%; to pay Rs 2.5/shr

Hindustan Lever (HLL) has reported a 28% decline in consolidated net profit of Rs 1,208.40 crore for the year ended December 31, 2004 as against Rs 1,687.34 crore in FY03.

According to a release issued to the BSE today, total income was Rs 10,901.81 crore for the year ended December 31, 2004 as against Rs 11,268.77 crore in FY03.

"The results for the year 2004 are not comparable to those of the previous year due to the sale of edible oils and fats business w.e.f August 29, 2003," the release added.

The board has recommended a final dividend of Rs 2.50 per equity share. "Together with the interim dividend of Rs 2.50 per share, the total dividend for the year works out to Rs 5 per share," the release added.

The company posted a net profit of Rs 333.67 crore for the fourth quarter ended December 31, 2004 as against Rs 494.72 crore in Q4FY03. Total income increased to Rs 2,692.38 crore from Rs 2,684.53 crore in the corresponding period of the previous fiscal.