DCM Shriram Industries reports Q4 net at Rs 23.98 crore

NEW DELHI: DCM Shriram Industries today reported a net profit of Rs 23.98 crore for the quarter ended on March 31, on account of higher income.

The company had posted a net loss of Rs 6.76 crore in the same period in 2014-15 fiscal.

Income from operations during January-March quarter of 2015-16 fiscal rose to Rs 333.55 crore from Rs 321.63 crore in the year ago period, DCM Shriram Industries said in a regulatory filing.

The board has re-designated Alok B Shriram, presently Deputy Managing Director as Vice-Chairman & Dy Managing Director and Madhav B Shriram presently whole time director as Deputy Managing Director, the filing added.

The remuneration including commission payable to Madhav B Shriram has increased from not exceeding 2.25 per cent of the net profit to not exceeding 3 per cent of the net profit, with effect from the current fiscal, all other terms of his appointment will remain unchanged, it added.