BGR Energy Systems has reported a slight drop in net profit for the fourth quarter as compared with the corresponding quarter of the previous year, despite a 29 per cent growth in revenue.
Increasing cost of materials and overall expenses have impacted the performance. The company is also exploring options for contracts in new areas to mitigate the impact of slowdown in power sector.
For the fourth quarter ended March 31, 2015, the company in engineering-procurement-construction, balance of plant, power and process equipment making, has reported a net profit of ₹18.82 crore (₹ 19.09 crore) on a total income of ₹ 1,047.63 crore (₹ 812.23 crore) on a standalone basis during the quarter.
Expenses jumped to ₹ 963.38 crore (₹ 731.52 crore) for the quarter.
For the year ended March 31, 2015, the company reported a net profit of ₹ 42.15 crore (₹ 109.95 crore) on a total income of ₹ 3,365 crore (₹ 3,295.60 crore).
On the BSE, the company’s shares closed higher at ₹ 113.30 against the previous close of ₹ 111.60.