Birla Corporation Q4 net profit down 44% at Rs59.15 crore
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New Delhi: MP Birla Group firm Birla Corporation on Friday reported a 43.95 % decline in standalone net profit at Rs59.15 crore for the fourth quarter ended March, on account of higher expenses.
The company had posted a net profit of Rs105.54 crore during the same period of previous fiscal, Birla Corporation said in a BSE filing. Net sales during the quarter under review stood at Rs1,065.12 crore as against Rs1,009.05 crore in the year-ago period.
For the entire fiscal, the company reported a standalone net profit of Rs214 crore as compared to Rs167.68 crore in the 2015-16 fiscal, up 27.62%. The company has also recommended a dividend of Rs6.50 per share for 2016-17. Shares of Birla Corporation closed 0.50% down at Rs769 on BSE.