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Power Mech Projects Ltd has informed the BSE that the Board of Directors of the company, at its meeting held on November 14, has decided to explore business opportunities in Nigeria and other African countries by establishing a joint venture entity in Lagos, Nigeria.
The move is aimed at undertaking activities of repair of steam/gas turbine, engineering services, component repair services and related repair services in Africa.
The board also appointed Sutanu Behuria as Additional Director, Independent Category and M Rajiv Kumar as Additional Director-Non Executive Category. It also accepted the resignation of Rakesh Sony as Director from the board.
The company posted a net profit of ₹18.08 crore for the second quarter ended September 30, 2015 as against ₹5.07 crore for the corresponding quarter last year.
The total income for the quarter was ₹317.18 crore (₹316.60 crore).
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