IL&FS Engineering and Construction company today reported standalone net profit of Rs 32.87 crore for the quarter ended March 31 on account of a rise in other income.

The company had posted a net profit of Rs 85 lakh for the January-March period of the 2014-15 fiscal.

Its income from operations during the same quarter of 2015-16 fiscal stood at Rs 589.08 crore, up 1.96 per cent, as against Rs 577.73 crore in the year-ago period, IL&FS Engineering and Construction company said in a BSE filing.

The company reported other income of Rs 85.56 crore in the quarter under review compared with Rs 24.74 crore in the same period a year ago.

For the entire fiscal its net loss stood at Rs 188.52 crore, while net profit was at Rs 2.67 crore in the previous fiscal.

Net sales were at Rs 1,844.87 crore during the fiscal, while it stood at Rs 2,348.2 crore in 2014-15.

In a separate filing, IL&FS Engineering and Construction Company said its plans to raise up to Rs 500 crore by issuing shares on preferential basis.

“The board of directors of the company... has resolved, subject to requisite approvals by members of the company through postal ballot and other statutory/ regulatory approvals, if required, to issue preference shares of Rs 100 each on preferential basis for an amount up to Rs 500 crore,” it said.

IL&FS Engineering and Construction Company is one of the leading infrastructure development, construction and project management companies.

The company executes projects under various domains such as buildings and structures, roads, railways, irrigation, power, ports, and oil and gas.

Shares of IL&FS Engineering and Construction Company were trading at Rs 43.05 on BSE in the afternoon session.

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