Praj Industries’ FY11 net profit declines 53%

Praj Industries has reported results for the year ended March 31, 2011.

The company has posted a net profit of Rs 53.46 crore for FY11, down by 53.06% as compared to Rs 113.88 crore in FY10. Total income has decreased by 7.92% to Rs 555.38 crore for the year under review from Rs 603.13 crore in previous year.

Praj Industries has recommended dividend of Rs 1.26 per share or 63% of face value of Rs 2 each subject to approval of shareholders in ensuing Annual General Meeting.