Shriram EPC, the integrated design, engineering, procurement and construction service provider, has reported a net profit of Rs 8.8 crore for the quarter ended December 31, 2010, up by 18.27 per cent over the same period last year.
The city-based company reported a net profit of Rs 7.44 crore during the same period last fiscal.
For the nine months ended December 31, 2010, the net profit more than doubled to Rs 54.88 crore from Rs 24.55 crore registered in the year-ago period, a company statement said.
Total income for the quarter ended December 31, 2010, rose to Rs 279.79 crore from Rs 240.39 crore registered during the same period last fiscal. For the nine months ended December 31, 2010, the total income stood at Rs 838.87 crore (Rs 635.87 crore).
“I am pleased to report healthy operations and financial performance during the quarter. The growth momentum in the EPC segment continues with process and metallurgy vertical dominating the service mix. With continued momentum in the order book, we look forward to a strong fourth quarter...” the company Managing Director and CEO, Mr T. Shivaraman, said.
Besides China, Shriram EPC currently has operations in Mumbai, Delhi, Kolkata and has cooling tower factories in Puducherry, Chennai and Gujarat, the statement added.