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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 for the first quarter ended June 30, 2011, 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 shares on the BSE closed 6.28 per cent down at Rs 139.65.
DPIL’s outstanding order book position was Rs 1,616.57 crore, Mr Amit Bhatnagar, Managing Director, said.
Board recommends Rs 3/share dividend
The board of directors has recommended a dividend of 30 per cent, at the rate of Rs 3/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 (EHV) cable plant in Vadodara and acquired 100 acres near this city for future expansion activities.
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