Latest News | Gujarat Industries Power Net Down 30% to Rs 43.52 Cr in Mar Qtr
Get latest articles and stories on Latest News at LatestLY. Gujarat Industries Power Company Ltd (GIPL) on Thursday reported nearly 30 per cent dip in its net profit to Rs 43.52 crore in the March 2021 quarter, mainly due to lower revenues.
New Delhi, May 27 (PTI) Gujarat Industries Power Company Ltd (GIPL) on Thursday reported nearly 30 per cent dip in its net profit to Rs 43.52 crore in the March 2021 quarter, mainly due to lower revenues.
The company had reported Rs 61.92 crore profit for the quarter ended March 31, 2020, a BSE filing stated.
Total income of the company dipped to Rs 340.59 crore in the quarter from Rs 354.96 crore in the same period.
Its net profit in FY2020-21 also declined to Rs 183.25 crore from Rs 247.98 crore.
Total income during the fiscal 2020-21 came down to Rs 1,365.62 crore from Rs 1,420.71 crore in the previous financial year.
The board has recommended a dividend of Rs 2.70 per equity share (27 per cent) of Rs 10 each fully paid up for the financial year ended March 31, 2021.
The company has only one reportable business segment namely "Power Generation".
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)