The Hindu Business Line : DCM Shriram Q4 net dips; to pay 45%

DCM Shriram Consolidated Ltd's (DSCL) net revenues increased by 11.7 per cent to Rs 515.41 crore during the fourth quarter of fiscal 2005-06 from Rs 461.35 crore in the same period last year.

The profit before tax (PBT) before exceptional items went up by 13.04 per cent to Rs 38.57 crore. However, due to net credit on account of exceptional items and non-recurring tax credit in the fourth quarter, the profit after tax (PAT) for the quarter was lower at Rs 26.02 crore as compared to Rs 39.44 crore in the same quarter last year, according to a company release.

The company's gross revenue for the year crossed Rs 2,500 crore for the first time.

The board of directors has recommended a dividend of 45 per cent (including interim dividend) amounting to a payout of Rs 17.02 crore (including dividend distribution tax).

DSCL's standalone net revenues were up by around 30 per cent at Rs 2,333 crore (Rs 1,800 crore).

Operating profits for the year increased by 25 per cent to Rs 284 crore. This growth was driven primarily by higher volumes in chemicals and sugar businesses, better margins in chemical business in the first half of the year and better price realisations in the cement business, the release added.

PBT (before exceptional items) went up to Rs 165 crore marking an increase of 19 per cent. Profit after tax increased by 10 per cent to Rs 115.19 crore (Rs 104.43 crore), translating to an EPS of Rs 6.94.

Business was also adversely affected due to higher subsidy receivables on manufactured and traded fertilisers, the total outstanding touching Rs 295 crore in March this year, which is 30 per cent more than the corresponding figure for the previous fiscal.