BS Ltd has posted a net profit of Rs 23.65 crore for the first quarter ended June 30, 2015, up 24 per cent, against Rs 19.07 crore it logged during the corresponding quarter last year on a consolidated basis.
The Hyderabad-based company, which is engaged in power and telecom transmission networks and EPC business, has registered net sales income of Rs 970.33 crore, up 93 per cent, against Rs 501.75 crore in the same period last year.
Rajesh Agarwal, Chairman, said, “Despite volatile market conditions and challenging times for infrastructure players, BS Limited has started the year on a good note with near doubling of revenues in the quarter. We are strengthening our international foothold and we look forward to building on this momentum in the year ahead.”
Last fiscal ended March 31, 2015, the company had closed with a net profit of Rs 75 crore and income of Rs 2,673.14 crore.
On a standalone basis, the company has posted a net profit of Rs 18.71 crore (Rs 18.13 crore) and the net sales was up at Rs 580 crore (Rs 408 crore).
The board of directors at its meeting today did not recommended any interim dividend on equity shares of the company.
The board has informed about the increase in the authorised share capital of the company from Rs 77 crore to Rs 100 crore and accordingly the necessary amendments to the relevant Clause(s) of the Memorandum of Association of the company made, subject to the approval of the shareholders.
It has also approved the appointment of Kamesh Yalamarty as Managing Director.
BS shares were trading at Rs 29.30, down 3 per cent on the BSE.