Mumbai, May 2: Associated Cement Companies Ltd (ACC) has posted a lower net profit of Rs 121.34 crore on a consolidated basis in 2002-03 compared with Rs 127.25 crore posted during the same period a year ago.
The company’s board has recommended a dividend of Rs 2.50 per share for the financial year, ACC said in a release here today.
ACC’s net sales on a consolidated basis stood at Rs 3,534.74 crore during the period compared with Rs 3,268.70 crore posted in 2001-02. On a standalone basis, ACC posted a lower net profit at Rs 103.89 crore during the fiscal compared with Rs 130.43 crore recorded a year ago.
ACC’s total income (net of excise) rose to Rs 2,988.51 crore during the fiscal as against Rs 2,904.51 crore posted during the same period a year ago, it added.
The company posted a 11.8 per cent rise in net profit at Rs 58.72 crore in the fourth quarter.