Comments
Gayatri Projects Ltd has had a tough second quarter ended September 30, 2014, with both its revenues and profitability taking a hit due to tough market conditions and high finance cost.
The Hyderabad-based infrastructure company has posted a steep decline in its net profit at Rs 1.13 crore for the quarter ended September 30, 2014 as against Rs 20.84 crore for the corresponding period last year.
The company registered lower revenue of Rs 306.32 crore for the second quarter as against Rs 447.80 crore for the same period last year.
For the financial ended March 31, 2014, the company had posted a net profit of Rs 47.06 crore and revenues of Rs 1,812.53 crore.
The company in a statement to the BSE has said it is in the process of undertaking technical evaluation of its fixed assets for the purpose of calculation based on the useful life of the assets.
In the numbers, the company has included a provision of Rs 3.16 crore as a part of the finance cost towards foreign exchange translation loss on External Commercial Borrowing liability.
Comments
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.