DNL Q4 net down 68 pc

City-headquartered Deepak Nitrite Ltd (DNL),which is into chemicals production and services,recently announced that it posted a 67.95 per cent drop in its net profit to Rs 4.3 crore in the fourth quarter of the 2008-09 fiscal as against Rs 13.42 crore in the corresponding quarter a year ago.

However,total revenue for 2008-09 stands at Rs 583 crore,as against Rs 472 crore a year ago,said a company release. The company’s export turnover increased from Rs 204 crore to Rs 304 crore,a growth of 49 per cent,while the profit after tax went up from Rs 7 crore to Rs 28.28 crore. The annualised earnings per share rose to Rs 31.55 as against Rs. 7.84 last year. The board has recommended a dividend of 50 per cent,that is Rs 5 per share,as against Rs 4 per share in the previous year.