DCM Shriram Industries reports Q4 net at Rs 23.98cr

DCM Shriram Industries today reported a net profit of Rs 23.98 crore for the quarter ended on March 31, on account of higher income.
The company had posted a net loss of Rs 6.76 crore in the same period in 2014-15 fiscal.
Income from operations during January-March quarter of 2015-16 fiscal rose to Rs 333.55 crore from Rs 321.63 crore in the year ago period, DCM Shriram Industries said in a regulatory filing.
The board has re-designated Alok B Shriram, presently Deputy Managing Director as Vice-Chairman & Dy Managing Director and Madhav B Shriram presently whole time director as Deputy Managing Director, the filing added.

The remuneration including commission payable to Madhav B. Shriram has increased from not exceeding 2.25 per cent of the net profit to not exceeding 3 per cent of the net profit, with effect from the current fiscal, all other terms of his appointment will remain unchanged, it added.