Comments
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.
rishikumar.vundi@thehindu.co.in
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.