The Hindu Business Line : Punj Lloyd Q4 consolidated net profit up 35%

New Delhi, May 30 Buoyed by increasing business in the global oil and gas domain, construction and engineering major Punj Lloyd Ltd announced on Friday that its fourth quarter consolidated net profit rose 35 per cent to Rs 119.40 crore.

The company said consolidated income for the Group was up 35.38 per cent to Rs 2,328.40 crore during the quarter compared to the corresponding previous period, with 47 per cent of the total income for the group coming in from international operations. Basic EPS for the quarter under review was Rs 3.89, the New Delhi-based company said in a statement.

Consolidated net profit in the fiscal year ended March surged 84 per cent to Rs 360 crore. Revenue increased 51 per cent to Rs 7,871.10 crore, with 59 per cent of the total income for the Group was derived from international operations.

“Activity in the oil and gas space is accelerating and we are seeing some strong traction in this space,” Chairman Mr Atul Punj said. “With the positive outlook in the industry, we are well positioned to capture growth opportunities and a good share of profits going forward.”

Punj Lloyd has an order backlog of Rs 19,596 crore as of May 30, primarily because of new contracts it received along with its Singapore-based unit, Sembawang Engineers and Constructors Pte. Ltd., the company said.

The Punj Lloyd share rose 3.23 per cent to close at Rs 320.85 per share on the BSE on Friday. The 52-week high for the stock stood at Rs 589.10 while the corresponding low was recorded at 210.55 per share.

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