Engineers India Q4 Net down 42.6% to Rs 104 crore

Engineers India Ltd (EIL) today reported 42.6 per cent fall in net profit to Rs 103.55 crore for the quarter ended March 31, 2014, due to lower income from operations and higher expenses.
The net profit in the corresponding quarter of the year-ago period was Rs 180.70 crore, the company said in a filing to BSE.
The total income from operations dropped to Rs 494.82 crore, against Rs 513.47 crore in the corresponding quarter, it said.
The company's total expenses increased to Rs 429.22 crore from Rs 381.36 crore in the January-March quarter of FY'13, it added.
In another filing, the company said its board has recommended a final dividend of Rs 3 per share (on the face value of Rs 5 each) on the equity shares of the company for the FY'14. The final dividend is subject to approval of shareholders, it added.

Shares of the company closed at Rs 297.90 apiece on BSE, down 2.12 per cent from previous close.