Subros Q4 net down 16%

NEW DELHI: Automotive air conditioners maker Subros Ltd today reported a 16.61 per cent dip in its net profit for the quarter ended March 31 at Rs 8.08 crore, against Rs 9.69 crore in the corresponding period in previous fiscal.

The company said the decline was primarily due to increased staff and finance costs besides higher depreciation provision for new manufacturing plants in Manesar and Pune.

Subros's turnover during the quarter stood at Rs 213.78 crore from the sale of 1,33,581 ACs, the company said in a statement.

AC sales during the full year ended March 31 stood at 4,67,478 units, earning the company a turnover of Rs 755 crore, the statement said.

Profit before tax during the fiscal stood at Rs 40.02 crore against Rs 35.09 crore in the previous fiscal.