Tiles maker Somany Ceramics today reported 19.85% rise in net profit at Rs 10.14 crore for the quarter ended March 31, 2013, on the back of robust sales.
It had posted a net profit of Rs 8.46 crore for the corresponding period previous fiscal, the company said in a statement.
Net sales of the company also rose to Rs 333.71 crore for the quarter under consideration from Rs 275.86 crore in the year ago period.
In a filing to BSE, the company said its Board of Directors has recommended a dividend payment of Rs 1.20 per equity share of Rs 2 each, for the fiscal ended March 31, 2013.
For the same period, net profit of the company stood at Rs 31.59 crore as against Rs 24.75 crore for the previous fiscal.
Net sales of the company rose to Rs 1,046.24 crore for the year ended March 31, 2013 from Rs 870.36 crore for the last fiscal year.
Commenting on the results, Somany Ceramics Joint Managing Director Abhishek Somany said: "The growth drivers continued to be enhanced brand equity, a diverse product basket moving towards further value addition, better quality and deeper distribution network."
In line with company's strategy to focus on asset light model, the two companies in which Somany Ceramics has acquired 26% equity stake are further enhancing their capacities from 5.30 million to 9.10 million square meters of vitrified tiles, he added.
Shares of the company today closed at Rs 85.65 apiece on the BSE, up 2.45% from their previous close.
