ARSS Infra FY-11 profit zooms 25% to Rs 112 cr

ARSS Infrastructure Projects Limited, a city-based real estate firm engaged in construction of roads, highways, bridges and irrigation projects, has posted Rs 112.17 crore profit in 2010-11, up by 25 per cent from previous year mainly on the back of higher order book.

The company's income stood at Rs 1,249 crores as against Rs 1,006.55 crore in 2009-10. Basic earning per share stood at Rs 75.57 as compared to Rs 70.48 for the corresponding period a year ago.

The company has announced a dividend of 10 percent, that is, Rs 1 per share having a face value of Rs 10 each for the year ended March 31, 2011 subject to the approval of the members at the forthcoming Annual General Meeting of the company.

The company's order book as on 31 March stood at approximately Rs 5,000 crore, according to a company release.

The company in March bagged an order for the development of a modern bus terminal in Bhubaneswar through public private partnership. The cost of the terminal is estimated at Rs 105 crores.

It has also bagged Rs 104 crore order from Assam government for doubling of NH-44 in February. In September, it was awarded an order worth Rs 163.11 crore by the Government of Mizoram for construction of a new two lane highway.

However, the last quarter result of the company was disappointing.

In Q4 2010-11, ARSS made an income of Rs 389.18 crore against Rs 401.29 crore made in the corresponding quarter of last year.

The final quarter profit slipped to Rs 35.28 crores, lower than Rs 40.13 crore in the comparable period last year.

Share price of the company has also been under pressure for some time. The company's shares on the Bombay Stock Exchange shed over 25 per cent in past one month.

On Thursday, it ended at Rs 432. 60 per share, down by7.9 percent from Wednesday.