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New Delhi May 17 ICI India Ltd has posted a net profit of Rs 184.39 crore for the fourth quarter ended March 31, 2007 compared with Rs 10.61 crore in the corresponding quarter previous year.

A press release from the company said that the rise in net profit is on account of exceptional income from divestment of shareholding in Quest International India and sale of advanced refinish business.

The company's net sales for the fourth quarter increased 5.58 per cent to Rs 201.84 crore from Rs 190.98 crore last year. Net profit for the financial year ended March 31, 2007 was Rs 448.42 crore (Rs 50.15 crore). Net sales for the fiscal under review were at Rs 900 crore compared with Rs 892.92 crore in 2005-06 financial year.

The board has recommended a dividend of Rs 7 per share (previous year Rs 6 per share) for 2006-07. In addition, it has also recommended an additional one-off special dividend of Rs 20 per share.

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