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Shakti Pumps' (India) Consolidated Profit Plunges in Fiscal Q4; Shares Plummet 8%

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Shakti Pumps (India) (NSE:SHAKTIPUMP, BOM:531431) recorded a sharp decline in its consolidated profit to 383.3 million Indian rupees in the fiscal fourth quarter ended March 31, against 1.10 billion rupees a year ago.

Shares of the company fell 8% in Friday's trade.

Earnings per share plunged to 3.10 rupees compared with the year-ago figure of 9.17 rupees, according to a Thursday filing to the Indian stock exchanges by the pumps manufacturer.

Revenue from operations in fiscal Q4 increased to 8.58 billion rupees from 6.65 billion rupees a year earlier.

The company's board recommended a final dividend of 1 rupee per share for the financial year ended March 31.

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