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India Cements today posted around 60% dip in net profit at Rs 26.28 crore for its fourth quarter ended March 31 on higher expenses towards fuel and freights.
The firm led by N Srinivasan, who is also BCCI President, had clocked Rs 64.92 crore net profit during the corresponding quarter last fiscal, it said in a BSE filing.
The company Board has recommended a dividend of Rs 2 per share for the 2012-13 fiscal.
Net sales of the company rose to Rs 1,190.64 crore during the quarter, from Rs 1,116 crore in the year-ago period.
Total expenses went up to Rs 1,094.82 crore, from Rs 965.44 crore during the January-March quarter of the previous fiscal on account of higher fuel and transportation costs.
Power and fuel expenses increased to Rs 341.17 crore against Rs 297.41 crore. Costs on transportation, too, rose to Rs 274.73 crore from Rs 211.93 crore.
India Cements net profit for 2012-13 fiscal dipped to Rs 188 crore from Rs 271.47 crore in the previous fiscal.
Net sales, however, increased to Rs 5,159.47 crore from Rs 4,631.04 crore a year earlier.
The company scrip was trading at 86.1, down 1.49% during the afternoon trade on the BSE.
