Electrosteel Casting reports 85% fall in Q4 net profit

Electrosteel Casting has reported results for the quarter and year ended March 31, 2012.

The company’s net profit for the fourth quarter ended March 31, 2012 fell by 84.68% to Rs 5.90 crore as compared to Rs 38.51 crore for the quarter ended March 31, 2011. The total income has decreased marginally by 0.24% to Rs 529.80 crore for the quarter under review from Rs 531.08 crore for the corresponding quarter of the previous year.

For the year ended March 31, 2012, the company’s net profit declined by 72.59% to Rs 42.38 crore as compared to Rs 154.64 crore for the previous year. However, the company’s total income has increased by 12.11% to Rs 1916.56 crore for the year from Rs 1709.53 crore in the previous year.