Supreme Infra Q4 net dips marginally at Rs 27 cr

Supreme Infrastructure today recorded a marginal 1.35% dip at Rs 27 crore in net profit for the quarter ended March 31.

The net profit for the corresponding period last year stood at Rs 27.37 crore.

The revenues for the January-March period grew 54.94% at Rs 507.65 crore against Rs 327.64 crore in the year-ago period, a company statement said.

"Given the macro environment, we have significantly reduced risks in our business with the planned stake sale in the road BOT business and achieving financial closure for all projects," company's Managing Director Vikram Sharma said.

The company bagged cash contracts worth Rs 619 crore during the quarter, the release said.

"We have also expanded geographically by adding contracts in Jharkhand and Assam. The geographical expansion has also helped us to reduce our concentration in western India region to 61% from 90% four years back. Going forward our focus will now lie on speedy execution of order book and adding cash contracts," he said.    

During the fourth quarter, 3i India Infrastructure Fund entered into an agreement with Supreme Infra for an investment of around $61 million for a minority stake in four road BOT projects.

For the year, the company posted a 58% growth in total revenues at Rs 1,509 crore as compared to Rs 953 crore in FY11, while net profit grew 22% at Rs 93 crore as against Rs 76 crore the previous fiscal.