)
Madras Cements today reported a 35% decline in its net profit at Rs 64.15 crore for the quarter ended March 31, 2013, on higher expenses.
The company, which has 13 million tonne per annum (mtpa) capacity, had clocked Rs 99.09 crore in net profit during the January-March quarter of the previous fiscal, it said in a statement.
Total income of the Chennai-based company, however, rose to Rs 957.54 crore during the reporting quarter compared to Rs 909.03 crore in the year-ago period.
Expenses also increased to Rs 844.62 crore in the review period from Rs 747.02 crore a year ago.
For the entire 2012-13, net profit of the company rose to Rs 403.65 crore from Rs 385.11 crore a year earlier. Income also rose to Rs 3,883.45 crore from Rs 3,247 crore.
The company Board has recommended dividend for the year 2012-13 at Rs 3 per share.
Shares of the company were trading at Rs 238.45 apiece, down 2.61% during the afternoon trade on the BSE.
