Companies

Receivables, interest cost Ramky Infra dear

Our Bureau Hyderabad | Updated on May 27, 2013 Published on May 27, 2013

Delay in securing receivables, high input and interest costs have affected the overall performance of Ramky Infrastructure Ltd for the fourth quarter and financial year ended March 31, 2013.

The Hyderabad-based infrastructure company posted a steep fall in net profit for the fourth quarter at Rs 5.75 crore as against Rs 54 crore for the corresponding period last year on a standalone basis.

The income from operations was also affected with the company logging Rs 944.76 crore versus Rs 1,179.87 crore for the year ago quarter.

The company’s net profit for the financial year ended March 31, 2013 was also down at Rs 59.93 crore on income of Rs 3,038.61 crore as against net profit of Rs 143.67 crore on a turnover of Rs 3,094.25 crore for previous year.

On a consolidated basis, the company closed with lower net profit of Rs 41.36 crore for the fourth quarter (Rs 101.87 crore same quarter last year), with income of Rs 1,115.33 crore (Rs 1,418.50 crore).

For the year ended March 31, 2013, the company registered a drop in net profit at Rs 151.25 crore (Rs 244.06 crore for previous year) on income of Rs 3,773.55 crore (Rs 3,934.04 crore).

Y. R. Nagaraja, Managing Director of Ramky Infra, said, “The last one year has been quite challenging with escalation in both input and interest costs.”

He said that stretched receivables, especially on account of policy paralysis, had resulted in a serious liquidity crisis.

“This is manifesting itself in the form of delayed execution. The environment is tough. We believe that Ramky Infrastructure will be able to execute the orders well and perform reasonably,” he said.

The company shares closed at Rs 63, down 0.48 per cent at BSE on Monday.

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Published on May 27, 2013
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