MUMBAI (Commodity Online): Buoyed by the increased infrastructure activity, Hyderabad-based construction company, Gayatri Projects Ltd (BOM: 532767) posted over 30% rise in the half yearly turnover.
Company announced its financial results for the half year ended September 30, 2009 on Friday. The company posted a turnover of Rs.541.34crore for the half year period against Rs. 414.25 crore in corresponding period of the last year, indicating an increase of 30.67%.
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The company posted a turnover of Rs.250.31crore for the second quarter ended September 30, 2009, as compared to 207.07 crore with an increase of 20.88%. Net profit for the second quarter stood at Rs.11crore as against Rs.8.56 crore posted in the same period of last financial year posting a growth of 28.51%
Commenting on the results, Mr. Sandeep Reddy Managing Director, Gayatri Projects Ltd said, “Our clear focus on construction and infrastructure development has started bearing results with impressive rise in earnings for the successive quarters. With economy poised to grow and work on all our projects in full swing, we continue to maintain a positive outlook with a growth in excess of 25% in the coming quarters”.
The company’s order book is over Rs.6,000 crore and the projects include national and state highways, dams, reservoirs, ash ponds and major canal works.
Among the prestigious projects executed by the company is the well-known Nagarjuna Sagar in Andhra Pradesh.
Company stocks closed at Rs.342.05 up by 3.29% on the Bombay Stock Exchange (BSE) on Friday. The stock yielded over 42% returns over past three months as the stock price rose from Rs.240.10 three months back to the current level.
