Profits of the company were down during the quarter as its tax expenses jumped to Rs 14.03 crore in fourth quarter of year 2013-14 from Rs 1.85 crore in the same period in the year 2012-13.
Aditya Birla Chemicals (India) Ltd (ABCL) today reported over 90 percent fall in net profit at Rs 0.74 crore for the fourth quarter ended March 31, due to higher expenditure and tax expenses.
The company had posted the net profit of Rs 7.85 crore in the same period in the year 2012-13. Total income during January-March quarter of the year 2013-14 increased to Rs 281.74 crore from Rs 211.80 crore during same period in previous year, the company said in a BSE filing.
Profits of the company were down during the quarter as its tax expenses jumped to Rs 14.03 crore in fourth quarter of year 2013-14 from Rs 1.85 crore in the same period in the year 2012-13.
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That apart, the company's total expenditure increased to Rs 244.88 crore as against Rs 182.86 crore in the review period. However, the company net profit for the entire fiscal 2013-14 more than doubled to Rs 49.74 crore from Rs 19.64 crore in 2012-13.
Profits were up as company's total income increased by 33 percent to Rs 1,066.16 crore during 2013-14 from Rs 802.89 crore in the year 2012-13. Board of the company has recommended dividend of Rs 1.50 per share at the rate of 15 percent on the paid up equity share of Rs 10 each.
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