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Starch-maker Anil Ltd, the flagship company of the Ahmedabad-based Anil Group, on Friday reported an increase of 68 per cent in net profit and 35 per cent in sales for the fiscal ended March 31, 2011.
The company cited enhanced domestic demand as the key contributing factor.
Net sales stood at Rs 504.08 crore (Rs 374.09 crore) while profit after tax was Rs 40.25 crore (Rs 23.99 crore).
On Friday, Anil Ltd's shares on the BSE closed 6.17 per cent down at Rs 215.15.
The board of directors has recommended dividend of Rs 2 per equity share of face value Rs 10 for the financial year.
In the fourth quarter ended March 31, its sales were up 44.55 per cent at Rs 147.73 crore (Rs 102.20 crore) while PAT was up 30.58 per cent at Rs 9.82 crore (Rs 7.52 crore).
In a statement, Mr Amol Sheth, Managing Director, said the revenue grew by more than 40 per cent due to strong demand in the domestic market. On the export front, the company achieved a growth of 50 per cent.
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