Gayatri Projects Ltd has posted a net profit of Rs 32.23 crore for the fourth quarter ended March 31, 2017 against a net profit of Rs 28.50 crore in the corresponding quarter last year on a standalone basis.
The Hyderabad-based construction and infrastructure company registered a total income of Rs 815.62 crore for the fourth quarter against Rs 668.30 crore in the corresponding quarter last year.
For the financial year ended March 31, 2017, the company posted a profit of Rs 74.36 crore and an income of Rs 2,128.22 crore as against a profit of Rs 58.64 crore and an income of Rs 1,818.81 crore.
The board has recommended a dividend of 25 per cent (50 paise per equity share of Rs 2 each).
Shares of the company were split from Rs 10 per share to Rs 2 per share with effect from February 10, 2017.
During March 2016, the company had entered into an agreement for the sale of its wind power business.
On a consolidated basis, the company posted a loss of Rs 98.36 crore and an income of Rs 2,300.82 crore against a loss of Rs 46.43 crore and an income of Rs 1,745.62 crore for the previous fiscal on a consolidated basis.
The company has announced that it has completed the acquisition of 5,20,833 shares of Gayatri Infra Ventures Ltd from AMP Capital Mauritius Ltd. With this acquisition, Gayatri Infra Ventures Ltd has become a wholly owned subsidiary of the company.