VA Tech Wabag, the Chennai-based water and waste-water management company, has reported a net profit of Rs 5 crore on a revenue of Rs 128 crore for the quarter ended June 30, 2011, according to a press release from the company.

During the corresponding period in the previous year, the company reported a net loss of Rs 4 crore on a revenue of Rs 72.4 crore.

During the first quarter of the current financial year, the company bagged two major orders totalling Rs 105 crore including sewer construction project from the Delhi Jal Board for Rs 80 crore and operation and maintenance contracts totalling Rs 35 crore.

The company's order book stands at Rs 3,333 crore of which 73 per cent relates to Indian contracts and the balance 27 per cent overseas.

Nearly a third of its overseas contracts are in Libya from where the company has withdrawn its expatriate staff because of the political situation.

But the company has adequate credit insurance to cover the risk and valid letters of credit, said the release.

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