Shree Cement today reported a standalone net profit at Rs 304.51 crore for the fourth quarter ended March 31, 2017.
The company had posted a net profit of Rs 663.03 crore during the same period of last fiscal, Shree Cement said in a BSE filing.
Total income during the quarter under review stood at Rs 2,834.44 crore. It was Rs 2,724.33 crore in the January-March quarter of 2015-16.
The company said the results are not comparable as it adopted change in its accounting year from 2015-16 fiscal.
"Accordingly, the said financial year of the company was of a nine month period from July 1, 2015 to March 31, 2016," it added.
The company said its board has recommended final dividend of Rs 24 per equity share of Rs 10 each for FY17. The dividend is subject to approval of the members at the ensuing AGM.
Shares of the company ended 1.45 per cent down at Rs 19,945.25 on BSE.