Maharashtra Seamless has reported a 9.5 per cent hike in the net profit for the year ended March 31, 2010 over the previous financial year ended March 31, 2009.
The net profit has increased from Rs 259.91 crore for FY09 to Rs 284.60 crore for FY10.
However net sales fell by 21 per cent, from Rs 2038.87 crore for the financial ended March 31, 2009 to Rs 1593.17 crore for FY10.
Following the results, the board of directors have recommended a dividend of Rs 6 per share, on 7,05,33,422 equity shares with a face value of Rs 5 each.
At the close of market hours, the stock for Maharashtra Seamless was priced Rs 373.25. The share lost Rs 10.15 or 2.65 per cent during the trading hours while the Sensex closed 60.99 points down from its previous close.
