New Delhi: MP Birla Group firm Birla Corporation today reported a 43.95 per cent decline in standalone net profit at Rs 59.15 crore for the fourth quarter ended March, on account of higher expenses.
The company had posted a net profit of Rs 105.54 crore during the same period of previous fiscal, Birla Corporation said in a BSE filing. Net sales during the quarter under review stood at Rs 1,065.12 crore as against Rs 1,009.05 crore in the year-ago period.
For the entire fiscal, the company reported a standalone net profit of Rs 214 crore as compared to Rs 167.68 crore in the 2015-16 fiscal, up 27.62 per cent.
The company has also recommended a dividend of Rs 6.50 per share for 2016-17. Shares of Birla Corporation closed 0.50 per cent down at Rs 769 on BSE.
