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Our Bureau

Mumbai , May 26

Godrej Industries Ltd has reported 12.16 per cent decline in fourth-quarter net profit at Rs 26.60 crore.

Lower selling prices and drop in volumes in its oleochemicals impacted its performance.

For the full year, Godrej's net profit was down at Rs 71.20 crore from Rs 75.75 crore the previous year.

"We expect the newly commissioned EOU at Valia to improve revenue through increased capacity," the company said in a release quoting the Chairman, Mr Adi Godrej.

The chemicals division contributed 64 per cent to the total revenues.

Revenues fell by six per cent to Rs 512 crore (Rs 543 crore) due to significant drop in selling prices internationally and lower domestic realisation.

The company's board also approved a dividend of Rs 5 per share.

It approved a proposal for sub-division of the face value of the share to Rs 1 from Rs 6.

The Godrej scrip fell by 4.62 per cent to close at Rs 672.60 on BSE.

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