Companies

Gayatri Projects nets Rs 27-cr in Q4, declares 30% dividend

Our Bureau Hyderabad | Updated on May 28, 2013 Published on May 28, 2013

Gayatri Projects Ltd has registered a net profit of Rs 26.83 crore for the fourth quarter ended March 31, 2013, as against a loss of Rs 2.41 crore for the corresponding quarter last year on a standalone basis.

The income from operations of the Hyderabad-based construction company was up at Rs 722.34 crore (Rs 629.34 crore).

Annual profit

For the fiscal ended March 31, 2013, the company achieved a net profit of Rs 63.08 crore (Rs 45.97 crore last year), on income of Rs 2,022.20 crore (Rs 1,801.90 crore).

On a consolidated basis, the company logged a net profit of Rs 9.54 crore (Rs 5.57 crore) on income of Rs 1,971.33 crore (Rs 2,199.53 crore).

In a statement to the stock exchanges, T.V. Sandeep Reddy, Managing Director of Gayatri Projects, said the board has recommended a dividend of Rs 3 per share (30 per cent).

Looking ahead

With the Prime Minister and the Finance Minister closely monitoring the infrastructure sector, the company expects several of the sector’ concerns to be addressed. The interest rates are poised to ease out.

Gayatri Projects’ 1,320 MW coal-fired thermal power project coming up at Krishnapatnam is progressing as per schedule and the first unit is likely to be ready by June-July 2014, a company source said.

The company’s shares closed the day at Rs 75.55, up 4 per cent on the BSE.

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Published on May 28, 2013
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