Chambal Fertilisers slips after sharp decline in Q4 net

The standalone net profit for March quarter dropped nearly 76% to Rs 5.63 crore

Chambal Fertilisers was down nearly 3% at Rs 40,  in an otherwise booming market, after the company reported sharp drop in net profit for the fourth quarter ended March 31, 2014.

The company's net profit for the quarter ended March 31, 2014 fell sharply by 76% to Rs 5.63 crore compared with 22.94 crore in the corresponding quarter last fiscal, the company said in a release after market hours on Friday.

Net Income for the quarter fell nearly 7% to Rs 1441.18 crore compared with 1,543.44 crore in the same quarter last fiscal.

For the fiscal ended March 31, 2014, the net profit was marginally lower at Rs 303.07 crore compared with Rs 305.61 crore in the previous fiscal. Net income for 2013-14 was up nearly 9% to Rs 7,976.42 crore compared with Rs 7,337.48 crore in the previous fiscal.

Meanwhile, the board has recommended a dividend of Rs 1.90 per equity share for the year ended March 31, 2014.