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| GM Breweries net declines 76% in Q4 |
| Press Trust of India / Mumbai Apr 06, 2010, 22:24 IST |
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Liquor maker GM Breweries today said its profit after tax declined by 76 per cent to Rs 66 lakh in the fourth quarter ended March 31, 2010.
It had a profit after tax of Rs 2.84 crore during the quarter ended March 31, 2009, GM Breweries said in a filing with the Bombay Stock Exchange (BSE).
Total income increased to Rs 55.97 crore in the quarter under review from Rs 51.46 crore in the same period previous year.
For the year ended March 31, 2010, the company's profit after tax declined to Rs 6.65 crore from to Rs 9.06 crore in the previous year, it said.
Total income rose to Rs 219.69 crore for the year under review from Rs 209.79 crore during the last year.
The board of directors recommended a dividend of Rs 2 per share, it said. However, the recommendation of dividend is subject to final approval at the annual General meeting, it said.
The board has approved the appointment of Jimmy William Almeida as Chairman and managing director of the company after accepting resignation of Celina William Almeida from the post, it said.
The board further appointed Jyoti Jimmy Almeida as a Whole Time Director from April 1, it added.
Shares of the company closed at Rs 89.50, up 3.35 per cent from the previous close on the BSE.
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