Domestic steelmaker Uttam Galva on Saturday reported a 27% decline in its net profit at Rs 34.27 crore for the fourth quarter of the 2009-10 fiscal mainly due to tax liabilities and change in accounting norms.
?The decline is due to change in accounting standards and some tax liabilities and increase in interest rates,? Uttam Galva director (commercial) Ankit Miglani said.
The company, which is a local partner of steel giant ArcelorMittal, had earned a net profit of Rs 46.96 crore in the year-ago period.
The firm said its saleable steel production went up by 29% during the period under review as against the same quarter of FY09.
The company’s total sales for the quarter stood at Rs 1,228 crore as against Rs 1,113.91 crore in the year-ago period.
JK Cement total income rises 25%
JK Cement on Saturday reported 26.55% drop in its standalone net profit at Rs 43.90 crore for the quarter ended March 31. The company had posted a net profit of Rs 59.78 crore in the corresponding period previous fiscal, JK Cement said in a filing to the BSE.
The total income during the fourth quarter, however, rose by 25.16% to Rs 542.08 crore from Rs 433.11 crore in the year-ago period, it added.
For the entire 2009-10 fiscal, the Kanpur-based cement maker’s net profit rose 58.77% at Rs 226 crore from Rs 142.34 crore in the previous fiscal.
Total income in the last fiscal stood at Rs 1,845.44 crore compared to Rs 1,502.46 crore, up 22.83%.
The company has declared a final dividend of 35% at Rs 3.50 per share, the filing said.
PVR net profit nosedives 84.5%
Multiplex chain PVR has said its consolidated net profit fell by 84.5% to Rs 1.35 crore for the year ended March 31, 2010, compared to the previous fiscal. The consolidated profit for 2008-09 was Rs 8.71 crore. Total income on consolidated basis for 2009-10 was down 4.73% to Rs 338.55 crore against Rs 355.39 crore in the previous fiscal. Revenues from the movie exhibition business increased to Rs 303.47 crore in the reporting fiscal from Rs 293.55 crore in the previous fiscal.