Steel-based engineering company Pennar Industries reported a nearly 20 per cent drop in its consolidated net profit for the quarter ended March 31, 2013 due to lower sales.
Its net profit for the quarter was Rs 12.19 crore against Rs 15.11 crore in the year-ago period.
Its gross sales during the quarter stood at Rs 345.90 crore (Rs 408.33 crore).
The company’s board declared a dividend of 20 per cent -- Re 1 for an equity share of face value Rs 5.