It reported a sharp rise in other operating income which shot up to 109 million rupees from four million the year before.

"Other operating income includes a reversal of provision made for a change in the value of short term investments amounting to 121.7 million rupees in 2009," a note to the accounts said.

Earnings per share were at 2.39 rupees in the June 2009 quarter compared with 1.39 a year ago.

Royal Ceramics showed revenue from sanitaryware sales for the first time.

Its bathware plant under a subsidiary, Rocell, was formally opened last week but it has been making trial sales for some months as it built up stocks for the formal launch.

Revenue from tile sales fell to 703 million rupees in the June 2009 quarter from 779 million the year before while sanitaryware sales came to 26 million rupees

Royal Ceramic's annual profit in the year to Match 2009 was down 15 percent to 518 million rupees from the previous year owing to a slowdown in sales caused by the economic crisis and higher costs.