Comments
HBL Power Systems Limited has posted a profit of Rs 2.21 crore for the fourth quarter ended March 31, 2016, as against a profit of Rs 8.69 crore for the corresponding quarter last year.
The company income for the fourth quarter was marginally down at Rs 321.09 crore as against Rs 345.01 crore for the same period last year. For the financial year ended March 31, 2016, the company net profit was up at Rs 19.42 crore and income of Rs 1288.35 crore as against a net profit of Rs 14.62 crore and income of Rs 1330.07 crore for the previous financial year.
The company has four subsidiaries—HBL Germany GMBH, HBL America Inc, SCIL Infracon Pvt Limited and HBL Suntech LLP, and has a joint venture Gulf Batteries Company Limited in Saudi Arabia. Due to non availability of audited/unaudited financial results of these companies as on March 31, 2016, consolidated financial statements could not be prepared along with standalone results.
The Board of Directors recommended 25 per cent dividend at Rs 0.25 per share of Re 1 each paid up amounting to Rs 6.32 crore plus tax on dividend of Rs 1.28 crore.
The company shares closed at Rs 34.95 at BSE today, down 2.78 per cent.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.