Gayatri Projects Ltd., the Hyderabad-based infrastructure company has posted a net profit of Rs 17.72 crore for the third quarter ended December 31, 2010 reflecting a growth 15.48 per cent over Rs 15.35 crore for the corresponding quarter last year.
The turnover for the quarter was up 14.93 per cent at Rs 383.79 crore up from Rs 333.92 crore it registered during same period last year. Diluted earnings per share was up 9.26 per cent at Rs 12.15 as against Rs11.12 same period last year.
Mr Sandeep Reddy, Managing Director of Gayatri Projects, in a statement said, “strong thrust on infrastructure developments has manifested in our results. Given the robust order book of Rs 8,000 crore, we continue to maintain a positive outlook.”
For the nine months ended December 2010, the company posted revenues of Rs 1,006.87 crore (Rs 875.26 crore) and net profit of Rs 44.53 crore, up 16.22 per cent.
During the quarter, the company has secured Rs 364 crore equity infusion by Sembcorp Industries in Thermal Powertech, executing a 1,320-mw coal-based plant.
In another important development, the Board approved a proposal to invest up to 50 per cent in Jinbhuvish Power Generation through its wholly-owned subsidiary Gayatri Energy Ventures. Jinbhuvish is setting up a 600-mw thermal plant in Maharashtra.
The company shares ended the day's trade at Rs 234.50 (previous close of Rs 230).