NSE:SHANTIGEAR

Shanthi Gears' Consolidated Profit Declines in Fiscal Q4; Shares Down 4%

Shanthi Gears' (NSE:SHANTIGEAR, BOM:522034) consolidated profit after tax declined to 162.7 million Indian rupees in the fiscal fourth quarter ended March 31, from 224.6 million rupees a year ago.Earnings per share contracted to 2.12 million rupees from 2.93 million rupees a year earlier, the gears manufacturer said in a filing to the Indian stock exchanges on Tuesday.Revenue from operations in fiscal Q4 also fell to 1.35 billion rupees from 1.53 billion rupees a year ago.The company's board recommended a final dividend of 2 rupees per equity share of 1 rupee each for the financial year ended March 31.The company's shares were down over 4% in recent trade.