Diversified company Om Metals Infraprojects today reported 61.86 per cent rise in net profit for the second quarter ended September 30 at Rs 10.78 crore.
The company had posted net profit of Rs 6.66 crore in the same period a year ago.
Total sales grew 25.26 per cent at Rs 68.32 crore from Rs 54.54 crore in the corresponding period of last year.
“We continue to bid for projects where there is better margin. We have always believed in innovation and niche technology to stand out from the rest of the construction companies, thus resulting in healthy growth in our earnings,” Om Metals Executive Director (Business Development), Vikas Kothari said in a statement here.
The company is engaged in diversified activities such as execution of turnkey hydro-mechanical contracts for hydro-power and irrigation projects, real estate development and infrastructure projects.
Revenues from the company’s engineering vertical stood at Rs 63.73 crore during the quarter, up 95.13 per cent from Rs 32.66 crore in the same period last fiscal.
It, however, reported a 78.66 per cent decline in revenues from the real estate segment at Rs 4.76 crore as against Rs 22.31 crore in the year ago period.