Kalyani Steels on Friday reported a 10% fall in standalone net profit to Rs 62.5 crore in the March quarter, dragged by higher expenses. It had posted a profit of Rs 69.7 crore in the corresponding period of the previous fiscal year. Its consolidated income during the quarter under review stood at Rs 515.8 crore as against Rs 474.3 crore in the year-ago period, it added. The board of directors recommended a dividend of Rs 10 per equity share of Rs 5 each on the equity share capital of the company for FY24, subject to members' approval.
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