Kolkata, May 31 (PTI) Protective gear maker Mallcom India Ltd on Tuesday reported an 11 per cent drop in its consolidated net profit to Rs 9.26 crore for the quarter ended March 2022.

The company had clocked Rs 10.43 crore net profit a year ago, it said in a statement.

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The net revenue increased 6.73 per cent to Rs 106.8 crore in the quarter under review from Rs 100.06 crore in the fourth quarter of FY21.

The company's Managing Director Ajay Kumar Mall said the operations at its new plant in Ahmedabad have commenced with regular orders being shipped to Europe.

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The first phase of the Gatakpukur plant in West Bengal is expected to start operations in July, he said.

Mall said the company is expecting a breakthrough in UK and Canada with new contracts.

The company said it was reducing debt by utilising cash flow from operations.

It recommended a dividend of Rs 3 per equity share for FY22.

(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)