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Strides Arcolab Q4 Profit Surges

Strides Arcolab Ltd. reported fourth-quarter consolidated net profit, after minority interest, of Rs.68.41 crore or Rs.11.74 per share, surged by thirty-fold from the Rs.2.28 crore or Re.0.39 per share for the quarter ended December 31, 2010.

The results for the quarter included a gain of Rs.59.84 crore, under exceptional items, compared with a loss of Rs.4.96 crore on account of exchange fluctuation. The results for the quarter also included a one-time charge of Rs.1.96 crore, compared with Rs.4.16 crore towards loss on sale/write off of investments.

Quarterly net income rose by 51 percent to Rs.686.47 crore from the Rs.455.64 crore in the corresponding quarter of the preceding year, while other operating income stood at Rs.11.74 crore, compared with Rs.9.76 crore in Q4FY11.

For the fiscal year, the company reported consolidated net profit of Rs.224.48 crore, compared with Rs.122.45 crore last year, an increase of 83 percent. Total income rose by 46 percent to Rs.2,576.94 crore from the Rs.1,761.06 crore in 2010.

Stand-alone Results

The company's fourth-quarter stand-alone net profit of Rs.155.77 crore, up by 134 percent from the Rs.66.43 crore in the year-ago quarter. Total income stood at Rs.197.92 core, compared with Rs.129.20 crore, an increase of 53 percent.

For the fiscal year, its stand-alone net profit totaled Rs.117.92 crore, higher by 60 percent than the Rs.73.56 crore last year, an increase of 83 percent. Total income rose by 40 percent to Rs.720.84 crore from the Rs.515.25 crore a year-ago.

The company's board recommended a dividend of 20 percent or Rs.2.00 per equity shares of Rs.10 each for the fiscal year 2011.

At the BSE, Strides Arcolab closed Monday's trading at Rs.533.85, down by 1.52 percent from the previous close.

by RTTNews Staff Writer

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