Kirloskar Brothers net rises to Rs 58 cr

PUNE: Despite a fall in sales during the fourth quarter to Rs 630.8 crore from Rs 645.8 crore last year, pump manufacturer Kirloskar Brothers (KBL), has reported a rise in net profit at Rs 58.4 crore, compared with Rs 47.3 crore in the year-ago period.

This rise is based on a steep increase in other income of Rs 28.1 crore against Rs 3.1 crore last year.

Reflecting the uptick in the economy, KBL has reported an improved performance for the full year with sales of Rs 2,017 crore compared to Rs 1,830.9 crore last year and net profit of Rs 117.5 crore compared to Rs 67 crore last year.

The board of directors have recommended a 275% dividend, which amounts to Rs 5.50 per share and includes a special dividend of Rs 2 per share since the Kirloskarvadi plant is celebrating its centenary.