Timken India Records Lower Fiscal Q4 Net Profit; Shares Up 3%

MT Newswires Live

05/19

Timken India (NSE:TIMKEN, BOM:522113) posted a decline in its net profit to 1.58 billion Indian rupees in the fiscal fourth quarter ended March 31 against 1.90 billion rupees a year ago.

Earnings per share contracted to 21.05 rupees compared with 25.30 rupees, according to a Monday filing to the stock exchanges by the machinery components manufacturer.

Revenue from operations in fiscal Q4, however, increased to 10.9 billion rupees from 9.51 billion rupees a year earlier.

The company also recommended a dividend of 2.5 rupees per share for the financial year ended March 31.

Shares of the company were up nearly 3% in recent trade.

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