BGR Energy Q4 profit up 48% to Rs 46cr

Chennai-based BGR Energy Systems Limited (BGR Energy), engaged in EPC and BOP turnkey contracting for power projects and LSTK contracts for Oil & Gas projects, has reported a 48 per cent increase in the net profit which stood at Rs 46.96 crore during the quarter ended March 31, 2009 as compared to Rs 31.90 crore, a year ago. Total sales increased to Rs 718.26 crore from Rs 578.60 crore, an increase of 24 per cent.

During the year 2008-09, despite the slowdown in Indian Capital Goods sector, the company had securied orders worth for Rs 8278 crore. As on March 31, 2009 order book stood at Rs 9,523 crore, of which Power Sector – EPC & BOP Contracts Power Sector – EPC & BOP contracts stood at Rs 9,039 crore, while Oil & Gas sector turnkey contracts and equipment business stood at Rs 417 crore and Rs 67 crore respectively.

“The company is poised for strong growth in revenue and profitability of Power and Oil & Gas sector as increasing demand for capital equipment in these sectors is expected to continue. BGR Energy believes that though the Indian economic growth has slowed during 2008, the demand for Power utilities is intact. Despite of challenges like rising input cost, volatile oil price and credit squeeze etc, the company is confident of delivering improved financial results and continues its growth path”.

The Board has recommended a dividend of Rs 3 per equity share of Rs 10.