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Gayatri Projects Ltd has posted a net profit of Rs 9.11 crore for the first quarter ended June 30, 2013, against Rs 8.02 crore for the corresponding period last year.
The company's income from operations for the first quarter was up at Rs 444.61 crore against Rs 404.21 crore for the corresponding year ago period.
The Hyderabad-based engineering and construction company had to take a Rs 7.22-crore hit due to foreign exchange transactions made for its liabilities of the external commercial borrowings.
Last financial year, the company closed with a profit of Rs 63.08 crore and income of Rs 2,022.20 crore.
The company is executing a 1,320 MW thermal power plant through a step-down arm of the company, Thermal Powertech, in partnership with Sembcorp of Singapore. The project is advanced stage of implementation and is now expected to be commissioned next year.
Another 1,320 MW power project being executed as a joint venture project in partnership with construction and infrastructure company NCC Ltd is also now under way.
>rishikumar.vundi@thehindu.co.in
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