Prabhat Dairy Q4 net up 16.4% to Rs 308.27 crore

NEW DELHI: Prabhat Dairy today posted 16.4 per cent increase in consolidated net profit at Rs 8.16 crore for the fourth quarter of the 2015-16 fiscal.

The company had reported a net profit of Rs 7.01 crore in the same quarter of the preceding fiscal.

Net income increased to Rs 308.27 crore in the January-March period of the latest fiscal, compared to Rs 283.72 crore in the year-ago period, Prabhat Dairy said in a regulatory filing.

However, the company's total expense rose to Rs 290.87 crore from Rs 261.52 crore in the said period.

The Board has recommended dividend of Rs 0.40 per share subject to the approval of shareholders, the filing added.

Prabhat Dairy has its production facilities at Shrirampur in Ahmednagar and at Navi Mumbai, with an aggregate milk processing capacity of 1.5 million litres per day.

The company's shares rose by 2.83 per cent to Rs 101.80 a piece at 1300 hours on the BSE.