Monnet dips nearly 1% post Q4 results

Shares of Monnet Ispat and Energy Ltd. dipped nearly 1 per cent on BSE after it reported a 9 per cent rise in net profit at Rs 83 crore for the fourth quarter ended March, 31, buoyed by an 22 per cent increase in total income.

The company reported Rs 77 crore net profits in the quarter of the previous financial year. Its total income for the reporting quarter stood at Rs 586 crore against Rs 482 crore in the year-ago period.

The shares of the company were currently trading at Rs 456, down 0.27 per cent.

In a similar fashion, shares of the company were quoting at Rs 455.50 a piece, down 0.43 per cent on the National Stock Exchange (NSE).

Meanwhile, the broader benchmark Sensex was quoting at 16,276.21, up 60.37 points at 11:00 hours.