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Our Bureau

New Delhi, May 24

Paint manufacturer ICI India Ltd has posted a net profit at Rs 10.61 crore for the quarter ended March 31 as against a net loss after taxation of Rs 1.01 crore for the corresponding period last fiscal. The figures for the quarter and year ended March 31 are not comparable with those for the corresponding periods of the previous year due to the divestment of the rubber chemicals business from December 28, 2005, the Kolkata-based company informed the Bombay Stock Exchange on Tuesday. It recorded total income (net of excise) of Rs 193.03 crore for the same period 2005-06 (Rs 188.18 crore), it said. The board of directors has recommended a dividend of Rs 6 per share of Rs 10 each for the year. The payment of dividend is subject to the approval of shareholders at the AGM. The net profit stood at Rs 50.15 crore in 2005-06 (Rs 47.18 crore), it said.

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