Modi Udyog Limited announced unaudited standalone earnings results for the fourth quarter and year ended March 31, 2016. For the quarter, the company reported income from operations of INR 576,044,270 compared with INR 13,281,440 for the same period last year. Profit from operation before other income, financial cost and exceptional items was INR 15,972,040 compared with loss from operation before other income, financial cost and exceptional items of INR 207,580 for the same period last year. Profit from ordinary activities before tax was INR 15,972,040 compared with loss from ordinary activities before tax of INR 207,580 for the same period last year. Net profit for the period was INR 11,036,560 or INR 0.036 basic and diluted per share as compared with INR 312,340 or INR 0.0010 basic and diluted per share for the same period last year.

For the year, the company reported income from operations of INR 863,276,020 compared with INR 71,424,960 for the same period last year. Profit from operation before other income, financial cost and exceptional items was INR 21,411,940 compared with INR 333,030 for the same period last year. Profit from ordinary activities before tax was INR 21,411,940 compared with INR 333,030 for the same period last year. Net profit for the period was INR 14,795,530 or INR 0.049 basic and diluted per share as compared with INR 58,420 or INR 0.000 basic and diluted per share for the same period last year.

The company at the annual general meeting to be held on August 1, 2016, proposed adoption of new set of Memorandum of Association and Article of Association.