Hindustan Sanitaryware & Industries Ltd (HSIL) has posted a marginal rise in its net profit at Rs 32.31 crore for the fourth quarter ended March 31, 2011, compared with Rs 30.90 crore in the same period last fiscal.

The company's net sales for the fourth quarter ended March 31, 2011, stood at Rs 327.06 crore, compared with Rs 258.09 crore in the same period previous fiscal.

HSIL board has recommended a dividend of Rs 2.50 (125 per cent) on equity share of Rs 2 each, it said.

For the year ended March 31, 2011, the company's net profit stood at Rs 87.35 crore, against Rs 52.43 crore in same period a year ago. Its net sales for the year ended March 31, 2011, stood at Rs 1,035.33 crore, compared with Rs 788.74 crore in the previous fiscal.

Mr Sandip Somany, JMD, HSIL said, “…All quarters have had healthy growth for a strong financial growth of the company. Highest quarterly sales in Q4 2011 and annual sales in FY 2011 for both divisions have been achieved. Ongoing business expansion and business improvement initiatives have demonstrated favourable outcomes. Focused approach towards customers through deeper penetration in the market, new product introductions and market promotions have had an overarching benefit for business dynamics.”

The shares of HSIL today closed at Rs 155.80 on the BSE, down 1.08 per cent from the previous close.

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