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Steel-based engineering company Pennar Industries has reported a 45 per cent fall in net profit for the quarter ended March 31, 2012, at Rs 11.4 crore, compared with Rs 20.7 crore in the year-ago period.
Its net sales, however, grew nine per cent to Rs 373 crore during the quarter from the year-ago Rs 342.20 crore.
The company's net profit margin during the quarter stood at 3.1 per cent compared with 6.1 per cent in the corresponding quarter of previous fiscal. It has declared a dividend of 20 per cent, that is, Re 1 per equity share of face value Rs 5 each.
“The railways and infrastructure sectors are experiencing macro-economic pressures, which have led to a degree of temporary uncertainty in some of our businesses. Last fiscal, solar and sheet piles product lines have made valuable financial contribution,” said Mr Nrupender Rao, Chairman.
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