Texmaco sees 70% drop in Q4 net profit to Rs 6cr

Adventz group company, Texmaco Rail & Engineering Limited registered a sharp decline of 70 per cent in standalone profit of Q4 ending March 17' to Rs 5.93 crore over the corresponding period last year owing to lower business from Indian Railways.
The net profit was Rs 5.93 crore for the fourth quarter ending March 17' against a profit of Rs 19.62 crore for the same period of 2016.
Revenue from operation was also lower at Rs 285.97 crore during the quarter under review in comparison to a revenue of Rs 380.62 crore in the corresponding quarter of 2015-16.
The company reported a net profit of Rs 33.57 crore for the full year FY17' as against Rs 27.20 crore in FY16.

The company had announced a dividend of 25 per cent for the year.
"The company's heavy engineering division's performance for the year has been adversely impacted due to low off-take of Rolling Stock from Indian Railways. With the continuing low ordering and unremunerated prices of wagons offered by the IR over the past couple of years, the Company is concentrating in the Non-IR wagon segment," a company statement said here today.