Polyester manufacturer Indo Rama Synthetics registered a 64 per cent dip in its net profit at Rs 35.47 crore for the fourth quarter ended March 31, 2012, due to lower sales and a weak rupee.
The company had reported a net profit of Rs 100.68 crore in Q4 2011.The net sales for the current quarter stood at Rs 786.98 crore compared with Rs 854.61 crore a year ago.
The Board has recommended a dividend of 10 per cent to its shareholders.
For the financial year ended March 31, 2012, the net sales stood at Rs 2,943.27 crore, marginally up by 5.26 per cent against Rs 2,796.06 crore in the previous year.
The net profit took a massive dip for the year at Rs 31.96 crore from Rs 139.41 crore in the corresponding period.
The shares of Indo Rama closed at Rs 25.10 on the BSE up 3.51 per cent.