Godrej Industries Ltd has declared the results for the year ended March 31, 2008.

Godrej Industries has posted 39.39% growth in its net profit, which stood at Rs 1,088.10 million for the year ended March 2008, as against Rs 780.60 million during the last year.

Total income zoomed 8% to Rs 7,879.70 million for the period under review, as against Rs 7,295.80 million for the same period, last year.

The board of Godrej Industries recommended a final dividend of 125% that is Rs 1.25 a share of face value of Re 1/- each.

In January 2008, Godrej Industries signed a deal to transfer its medical diagnostics division to ICICI Venture-backed RFCL for an undisclosed sum.

Godrej Industries is India’s leading manufacturer of oleochemicals and makes more than a hundred chemicals for use in over two dozen industries. It also manufactures edible oils, vanaspati and bakery fats. Besides, it operates businesses in medical diagnostics and real estate.

At 2:04 p.m., the shares of the company gained 5.0% to trade at Rs 272 on the Bombay Stock Exchange (BSE).