Electrosteel Castings Ltd reported a near 84 per cent dip in standalone net profit to nearly Rs 6 crore for the quarter ended March 31, 2012.

The duct iron pipe-maker had reported a net profit of nearly Rs 39 crore during the corresponding quarter last fiscal.

Total standalone income during the quarter dropped to Rs 530 crore.

The board has recommended a dividend of Rs 0.50 or 50 per cent on paid-up shares of face value Re 1 each.

On a consolidated basis, Electrosteel reported a net loss of Rs 27 crore and a total income of Rs 2,102 crore for the year ended March 31, 2012.

The company's shares closed at Rs 19.40, up by nearly one per cent, on the BSE on Monday.

(This article was published on May 28, 2012)
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