Madras Cements has affirmed its annual financial results for the fiscal year 2009-10. It has been reported that the net profit of the company has gone marginally down.

The company has posted a net profit of Rs 353.68 crore for the year that ended in 31st March, 2010. The net profit of the firm was reported to be Rs 363.52 crore for last year.

The company has posted a higher operating profit before interest, depreciation and tax this year. It was found out be Rs 877.41 crore for the 2009-10 financial years. Last year it was reported to Rs 793.50 crore.

As per the market experts, the higher interest cost, depreciation charges and tax liability has affected the balance sheet of the company. The net sales of the company have increased to Rs 2800.89 crore from Rs 2456.18 crore in the preceding year.

The board has decided to recommend a dividend of Rs 1.50 per share to its investors for the financial year 2009-10 subject to the approval of the share holders.