Comments
Engineering and geospatial company Rolta has reported a 145.5 per cent jump in net profit for the third quarter ended December 31, 2010 thanks to a one-time gain on the sale of the company's stake in Shaw Rolta.
Net profit for the quarter stood at Rs 154.18 crore against Rs 62.79 crore reported in the same period a year ago. Revenues for the quarter under review were up by 17.5 per cent to Rs 441.15 crore (Rs 375.56 crore)
In the quarter gone by, Rolta recorded gains of Rs 103.65 crore after it sold 50 per cent stake in Shaw Rolta to its joint venture partner, Stone & Webster, Inc. – a subsidiary of the US-based Shaw Group, for over Rs 150 crore.
Rolta will receive the rest of the amount over the next two years.
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.