Karuturi Global, which is engaged in floriculture business, today reported 75 per cent drop in net profit at Rs 19.90 crore for the fourth quarter ended March 31.
It had posted a net profit of Rs 81.14 crore in the year-ago period, the company said in a filing to the BSE.
Net sales, however, increased to Rs 145.09 crore in the fourth quarter of the last fiscal from Rs 137.96 crore in the corresponding quarter of the previous year.
For the full 2012-13 fiscal, it posted net profit of Rs 108.13 crore as against Rs 156.32 crore in the previous year.
Net sales decreased to Rs 559.86 crore in 2012-13 from Rs 563.14 crore in the previous fiscal.
Karuturi Global has an area of over 292 hectares under greenhouse cultivation, and annually produces around 555 million stems of quality cut roses.
The company scrip fell 8.05 per cent to close at Rs 2.74 on the BSE.