Nelcast Q4 net triples to Rs 12 crore

Auto component company Nelcast's fourth quarter net profit has tripled to Rs 12 crore, from the previous corresponding quarter. Total income was Rs 162 crore, up 5 per cent. For the year ended March 31, 2012, net profit dipped 46 per cent to Rs 46 crore, while income rose 28 per cent to Rs 653 crore. The company has recommended a final dividend of 40 per cent — Rs 0.80 per share of Rs 2.Nelcast has informed the BSE that Mr P. Deepak has been appointed Managing Director and Chief Executive Officer of the company for three years with effect from July 1, 2012.