Rane Brake Lining today said that its net profit declined by 37.16 per cent to Rs 1.86 crore for the fourth quarter ended March 31, over the same period in the previous fiscal.
The total income of the company increased to Rs 64.98 crore for the fourth quarter against Rs 47.71 crore in the same period in the corresponding fiscal, Rane Brake Lining said in a statement.
"The good performance was due to the buoyant auto sector, where the domestic demand has grown consistently from July 2009, as well as the slow but steady revival in the export market," Rane Group Chairman L Ganesh said.
The company has recommended a final dividend of Rs 1.50 per share for the financial year ended March 31, 2010.
For the year ended March 31, 2010, the company's net profit surged three-fold to Rs 10.08 crore, compared to Rs 2.89 crore in the previous fiscal.
The total income of the company rose to Rs 236.30 crore for the year ended March 31, compared to Rs 191.34 crore in the corresponding fiscal.
Shares of Rane Brake Lining today closed at Rs 114.45 on the BSE, down 0.26 per cent from its previous close.