Grasim gains 2% even as Q4 net dips

Grasim Industries has gained 2% inspite of 35% dip in the Q4 net profit.

The stock opened down 2% at Rs 2,250. It slipped further to Rs 2.245. The stock is now trading 2% higher at Rs 2,330. The counter has clocked a volume of 7,506 shares on the BSE so far.

The company has informed the BSE that the consolidated net profit has declined over 35% to Rs 568.79 crore in the quarter ended March 31,2009 from Rs 880.77 crore in the corresponding quarter a year ago. The total income, however, has increased 5% to Rs 5,065.68 crore in Q4FY09 as against Rs 4,832.37 crore in Q4FY08.

Further, the board has recommended dividend of Rs 30 per share for the full year.