Electrical and communications cabling company, Finolex Cables Ltd on Tuesday said its net profit for fiscal 2014-15 dipped 4.3 percent at Rs.198.66 crore against Rs. 207.68 crore in 2013-14.
Net sales of the company, in the review period, however, rose by nearly four percent at Rs. 2,429.74 crore against Rs.2,336.67 crore in 2013-14.
In a regulatory filing with the National Stock Exchange, the company said during the last fiscal, it expanded its capacities in co-axial and local area network cables, both at its facilities in Goa and Urse in Pune, and completed a switchgear facility at Roorkee in Uttarakhand.
"The company announced its intention to procure land in Gujarat to take care of future expansions," the statement said.
The firm's board of directors has recommended a dividend of 90 percent for 2014-15.
It is presently awaiting product certification from the Bureau of Indian Standards.
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