Praj Industries has reported a net profit of Rs20.77 crore for the fourth quarter of 2013-14, which was 24 per cent up from Rs 16.75 crore for the corresponding period of the previous fiscal.
The company's income for the period ending March 31, 2014 stood at Rs349.43 crore, which was up by 31 per cent from Rs266.13 crore of the corresponding period.
The net profit for FY14 of the company stood at Rs54.63 crore (after minority interest) as against Rs 68.03 crore during the previous fiscal.
Praj Industries' income from operations for the whole year stood at Rs985.84 crore as against Rs922.03 crore in FY 13. On a consolidated basis, the company's total income amounted to Rs1009.59 crore.
Our fundamentally strong business model and operational excellence have helped us to maintain market share and deliver a stable performance in FY 2014, despite the severe operating challenges. Continued growth in our emerging businesses along with the advancement of technology in the established businesses has widened the spectrum of opportunities", said Mr. Gajanan Nabar, CEO & MD, Praj Industries.The Board of Directors has recommended final dividend of Rs1.62 per share (81% of the face value of Rs2 each) subject to approval of Shareholders in the ensuing Annual General Meeting. With this, total dividend for financial year 2013-14 will be Rs 2.22 per share (111% of the face value of Rs2 each.