Essar Ports today reported a marginal 1 per cent decline in net profit to Rs 90.8 crore for the fourth quarter ended March 31, 2014, compared to Rs 92.1 crore in the same period of previous fiscal.
"Revenues for the fourth quarter increased by 5 per cent to Rs 415.5 crore from Rs 396.7 crore in the same period last fiscal," Essar Ports said in the statement.
Net Profit for full 2013-14 year increased by 16 per cent to Rs 383.7 crore, from Rs 331.6 crore in previous fiscal.
Revenue for the financial year increased by 13 per cent to Rs 1,637.4 crore from Rs 1,448.6 crore for the previous year.
The board of the company has recommended a dividend of 5 per cent, or 50 paise, per share, it said in a filing to the BSE.
Essar Ports is part of multinational Essar Group and holds the Group's entire ports business.
Essar Ports develops and operates ports and terminals for handling liquid, dry bulk and general cargo, with an existing aggregate capacity of 104 million tonnes per annum.
Shares of the company closed at Rs 68.95, up 2.22 per cent on the BSE.
