Kalyani Steels reported a 10% decline in net profit to Rs 62.5 crore in the March quarter due to higher expenses. The company's consolidated income increased to Rs 515.8 crore.
New Delhi, May 10 (PTI) Kalyani Steels Ltd on Friday reported a 10 per cent fall in standalone net profit to Rs 62.5 crore in the March quarter, dragged by higher expenses.
It had posted a profit of Rs 69.7 crore in the corresponding period of the previous fiscal year, the company said in a regulatory filing on Friday.
Its consolidated income during the quarter under review stood at Rs 515.8 crore as against Rs 474.3 crore in the year-ago period, it added.
Total expenses in the fourth quarter were higher at Rs 431.5 crore as compared to Rs 379.6 crore in the same period a year ago.
The board of directors recommended a dividend of Rs 10 per equity share of Rs 5 each on the equity share capital of the company for FY24, subject to members' approval.
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