Foseco India declared a final dividend of Rs15.50, taking its full year dividend to Rs24.50 per share even as its December quarter net profit fell 47%
Foseco India, a supplier of metallurgical chemicals for the ferrous and non-ferrous industry, reported 47% fall in its fourth quarter net profit due to subdued demands and lower margins.
For the quarter to end-December, Pune-based Foseco India said its net profit fell to Rs2.16 crore from Rs4.04 crore, while, its total revenues, including sales, declined 3% to Rs56.26 crore from Rs57.81 crore, a year ago period.
During the quarter, the company reported a 2% increase in its expenditure at Rs53.24 crore from Rs52.40 crore a year ago period.
However, as on 31 December 2013, Foseco India’s reserves and surplus stood at Rs94.16 crore, a 13% increase than a year ago period.
Foseco India announced a cumulative dividend of Rs24.50 per share including final dividend of Rs15.50 and an interim dividend of Rs9 per share.
Foseco India closed Friday marginally down at Rs497 on the BSE, while the 30-share benchmark ended the day flat at 20,387.
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