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Gayatri Projects Ltd has posted a higher net profit of Rs 28.50 crore for the fourth quarter ended March 31, 2016, as against a profit of Rs 15.95 crore for the corresponding quarter last year on a standalone basis.
The income for the fourth quarter was up at Rs 668.21 crore as against Rs 560.08 crore for the corresponding quarter last year.
For the financial year ended March 31, 2016, the Hyderabad-based infrastructure company posted a net profit of Rs 58.64 crore and income of Rs 1,812.21 crore as against a net profit of Rs 22.05 crore and income of Rs 1,601.14 crore in the previous financial year.
On a consolidated basis, the company posted a profit of Rs 1.22 crore for the year ended March 2016 and an income of Rs 1,620.40 crore and a loss of Rs 31.69 crore and income of Rs 1,500.76 crore for the previous financial year.
The company has entered into an agreement with Cube Highways and Infrastructure PTE Ltd for divestment of its stake in Western UP Tollways Ltd. However, the exact sale price is under final negotiation.
The board of directors of the company has approved dividend @ 20 per cent (Rs 2 per equity share of Rs 10) on the paid-up capital of the company subject to the approval of shareholders in the ensuing annual general meeting.
The company shares were trading at Rs 549.25, down 2.44 per cent at BSE during the day.
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