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DI pipe maker Electrosteel Castings Ltd reported a 5.3 per cent growth in net profit at Rs 46.78 crore in the fourth quarter of 2013-14. Net profit for the full year stood at Rs 100.56 crore, up 3.4 per cent.
The company’s revenues during 2013-14 jumped nearly 12 per cent to Rs 2,095 crore driven by higher volumes and better realisations, the company said in a statement. EBITDA increased by 14 per cent to Rs 325 crore primarily due to lower prices of major raw materials -- iron ore and coking coal, the statement added.
The company has declared a dividend of 65 per cent for the FY‘2013-14 against 50 per cent in previous year.
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