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New Delhi, Oct. 23

Engineering and construction firm Punj Lloyd on Thursday reported a 60 per cent jump in consolidated net profit at Rs 144.12 crore for the quarter ended on September 30, 2008, as against a consolidated net profit of Rs 89.4 crore in the same quarter last year. In terms of the total income, the company registered an increase of over 53 per cent at Rs 2,954 crore as compared to Rs 1,924.7 crore in the corresponding period last year. Speaking on the results, Punj Lloyd Group Chairman, Mr Atul Punj, said, “This quarter we bagged orders from Qatar Petroleum of over Rs 3,636 crore and GVK Power of Rs 1,005 crore amongst others... Another encouraging development was that of Punj Lloyd Upstream winning its first drilling contract in Libya from Waha Oil Company. Our present order backlog provides strong visibility for next 18 months and the volume of bidding activities continues to be strong.” The company’s share price dipped 1.74 per cent to Rs 164.15 on Thursday. —

Our Bureau

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