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Gujarat Pipavav Port Ltd (GPPL) today reported a 25.49 per cent decline in standalone net profit at Rs 49.83 crore for the March quarter.
The company, a part of APM Terminals, had posted a net profit of Rs 66.88 crore in the year-ago quarter, GPPL said in a BSE filing.
Total income also fell 14.36 per cent to Rs 160.98 crore in the fourth quarter from Rs 187.99 crore in the corresponding period.
Expenses, however, declined to Rs 86.53 crore during the quarter under review from Rs 91.55 crore in the year-ago quarter.
In a separate filing, GPPL informed that its board of directors has recommended a maiden dividend of Rs 1.90 per share on the equity share capital of the company subject to the approval of the members and the dividend once approved will be paid on or after August 16, 2016.
The company’s net profit for the year ended March 31 stood at Rs 236.65 crore.
Shares of GPPL ended down by 1.85 per cent at Rs 159.20 on the BSE.
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