Madras Cements on Thursday reported a 35 per cent decline in its net profit at Rs. 64.15 crore for the quarter ended March 31, 2013, on higher expenses.

The company, which has 13 million tonne per annum (mtpa) capacity, had clocked Rs. 99.09 crore in net profit during the January-March quarter of the previous fiscal, it said in a statement.

Total income of the Chennai-based company, however, rose to Rs. 957.54 crore during the reporting quarter compared to Rs. 909.03 crore in the year-ago period.

Expenses also increased to Rs. 844.62 crore in the review period from Rs. 747.02 crore a year ago.

For the entire 2012-13, net profit of the company rose to Rs. 403.65 crore from Rs. 385.11 crore a year earlier. Income also rose to Rs. 3,883.45 crore from Rs. 3,247 crore.

The company Board has recommended dividend for the year 2012-13 at Rs. 3 per share.

Shares of the company were trading at Rs. 238.45 apiece, down 2.61 per cent during the afternoon trade on the BSE.

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