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Power equipment and EPC player Diamond Power Infrastructure Ltd (DPIL) on Friday reported a 6 per cent fall in its net profit and a 3 per cent decrease in net sales in the first quarter of 2011-12, ended June 30, compared to the corresponding quarter in the last fiscal.
While the sales were Rs 369.84 crore (Rs 381.61 crore), net profit was Rs 29.63 crore (Rs 31.22 crore), the company said in a statement here. On Friday, DPIL's share price at the BSE closed 6.28 per cent down at Rs 139.65. DPIL's outstanding order book position was Rs 1616.57 crore, Mr Amit Bhatnagar, Managing Director, said.
The Board of Directors has recommended a dividend of 30 per cent, at Rs 3 an equity share of Rs 10. During the quarter, DPIL signed an MoU with Orissa-based Utkal Galvanizers Ltd to acquire a substantial stake in the company, commissioned an extra high voltage cable plant in Vadodara and acquire 100 acres near this city for expansion.
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