Mishra Dhatu Nigam Limited (MIDHANI), a government of India enterprise, has posted a standalone profit after tax of ₹77.4 crore for the quarter ended March 31 that in comparison to the ₹45 crore in the corresponding period of previous fiscal is an increase of 72%.
Total revenue from operations for the quarter was ₹310.8 crore or nearly 10% higher over ₹283.4 crore of the year earlier period.
For the full fiscal (2017-18), the company registered an almost 4% increase in the PAT at ₹131.26 crore (₹126.31 crore). Total revenue from operations, however, declined to ₹666 crore (₹809.7 crore).
The Board of Directors has recommended a dividend of ₹2.10 per equity share (face value of ₹10 each) for the fiscal.
A release from MIDHANI said sales turnover was lower due to delay in order receipt and major revamping/modification of 1500 tonne forge press.
The order book position at the beginning of 2018-19 stood at ₹569 crore. With this order book and the new order prospects, the company has planned for a “good growth with commensurate profitability in the year to come.
Revenue growth of about 23% and (an increase in) operating profit of 19.50% is targeted by MIDHANI in 2018-19, the release said.