Kalyani Steels Reports 10% Decline In Q4 Net Profit To Rs 62 Crore

Kalyani Steels Ltd on Friday reported a 10% fall in standalone net profit to Rs 62.5 crore in the March quarter, dragged by higher expenses. It had posted a profit of Rs 69.7 crore in the corresponding period of the previous fiscal year, the company said in a regulatory filing on Friday.

Its consolidated income during the quarter under review stood at Rs 515.8 crore as against Rs 474.3 crore in the year-ago period, it added.

Total expenses in the fourth quarter were higher at Rs 431.5 crore as compared to Rs 379.6 crore in the same period a year ago.

The board of directors recommended a dividend of Rs 10 per equity share of Rs 5 each on the equity share capital of the company for FY24, subject to members' approval.