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Increase in interest and finance charges has brought down IVRCL Ltd's profit after tax to Rs 157.90 crore for the financial year ended March 31, 2011 against Rs 211.31 crore it logged for the previous financial year.
The interest and finance charge was up at Rs 218 crore for the year ended March 31, 2011, against Rs 164 crore for the previous year. The standalone income from operations was at Rs 5,625.18 crore against Rs 5,479.84 crore, showing a growth of about 3 per cent.
The consolidated turnover was at Rs 6,822.7 crore against Rs 5,826.83 crore, reflecting a growth of about 17 per cent.
Q4 net down
For the fourth quarter ended March 31, 2011, the income from operations was up 9 per cent at Rs 2,056.57 crore against Rs 1,887.68 crore for the corresponding quarter last year. Net profit was lower at Rs 64.25 crore (Rs 85.24 crore).
The company's board has declared a dividend of 30 per cent at 0.60 paise/share of Rs 2 each.
On Friday, the IVRCL stock gained 5.64 per cent to Rs 69.25 on the BSE.
According to a statement from the Executive Director – Finance and Group CFO, Mr R. Balrami Reddy, the company had an order book of Rs 23,979 crore. He said in spite of rising inflation and hardening interest rates, the Indian growth story is encouraging. The company is positioned to sustain the growth momentum with a healthy order book.
IVRCL Assets & Holdings has recorded a turnover of Rs 682.11 crore for the year ended March 31, 2011, against Rs 143.11 crore, with profit after tax at Rs 46.73 crore (Rs.6.4 crore) for the previous year.
HINDUSTAN DORR-OLIVER
The group's engineering and construction subsidiary HDO has achieved a consolidated gross turnover of Rs 1,083.13 crore against Rs. 885.52 crore for the year ago period. The profit after tax was flat at Rs 53.75 crore compared to Rs 55.53 crore. HDO declared a dividend of 40 per cent or 0.80 paise/share of Rs 2 each.
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