Heritage Foods Ltd has registered a steep drop in net profit of Rs 6.92 crore for the fourth quarter ended March 31, 2014 against Rs 14.87 crore in the corresponding quarter last year on a standalone basis.
The Hyderabad-based dairy, retail and agri-products company, however, posted higher total income of Rs 437.74 crore during the fourth quarter against Rs 394.44 crore in the same period last year.
For the financial year ended March 31, 2014, the company logged a lower net profit of Rs 45.31 crore against Rs 49.96 crore in the same period last year, but the total income was up at Rs 1,722.03 crore against Rs 1,601.81 crore in the previous year on a standalone basis.
On a consolidated basis, the company logged a net profit of Rs 6.91 crore (Rs 14.86 crore) and income of Rs 437.74 crore ( Rs 394.44 crore) during the fourth quarter.
For the financial year ended March 31, 2014, it registered a lower net profit of Rs 45.29 crore (Rs 49.94 crore) and higher total income of Rs 1,722.03 crore versus previous financial year’s Rs 1,601.81 crore.
Last financial year, the company issued bonus shares in the ratio of one share for every share held.
In a filing made with the stock exchange here today after the board meet and announcement of results, the company stated that the board has recommended a dividend of 30 per cent (Rs 3 per share) of the face value of Rs 10 each paid subject to shareholders’ nod at the annual general meeting.
The company shares were trading at Rs 342.50, down 3 per cent.