Sintex Industries reports 47% fall in Q4 consolidated net profit

Textiles and plastics firm Sintex Industries has reported a fall of 46.84% in its fourth quarter net profit to Rs 88.42 crore, due to reduction in demand in both domestic as well as international markets. The company had posted a net profit of Rs 166.34 crore in the same period of previous fiscal.

The company’s net sales declined by 30.59% to Rs 1,015.30 crore during the fourth quarter, compared to Rs 1,462.72 crore during the corresponding period of previous fiscal.

For the year ended March 31, 2102, the company posted a consolidated net profit of Rs 301.91 crore, as against Rs 458.38 crore during 2010-11 fiscal, down by 34.14%.

The net sales of the company for the year ended March 31, 2012 stood at Rs 4,436.77 crore, compared to Rs 4,475.14 crore during the previous fiscal.

The company’s board, which met today, has recommended a dividend of Rs 0.65 per equity share the 2011-12 fiscal.