DCM Shriram Q4 net profit soars 87%

DCM Shriram Consolidated (DSCL) today reported 87% rise in net profit at Rs 28.3 crore for the quarter ended March 31.

The company had a net profit of Rs 15.27 crore in the same period last year.

The company posted a revenue of Rs 1,106.9 crore for the fourth quarter of the 2010-11 fiscal, up by 23.2% from Rs 896.6 crore in the year-ago period, DSCL said in a filing to the Bombay Stock Exchange (BSE).

DSCL, however, witnessed a loss of Rs 14.27 crore during last fiscal, against the net profit of Rs 84.25 crore in the previous year.

Total revenue of the company was up by 17% to Rs 4,151 crore in the FY11 compared with Rs 3,546.8 crore in the previous fiscal, it said.

The company said its net profit in FY11 declined because of higher input costs in fertiliser, chloro Vinyl and cement businesses. It posted losses in sugar and its retail arm Hairyali Kisaan Bazaar.

DSCL said that the board recommended dividend of Rs 0.40 per equity share of Rs 2 each for the year ended March 31, 2011 out of accumulated profits of previous year.

The share of the company closed higher by 9.39% at Rs 46.60 from the previous day.