Diamond Power net rises by 66%

Diamond Power Infrastructure Limited (DPIL), an integrated turnkey power player with strong presence in cables and transformers, posted a 66 per cent rise in net profit for the quarter ended September 30 to Rs27.76 crore compared to Rs 16.72 crore in the corresponding quarter last fiscal on the back of a 102.8 per cent increase in net sales during the period.

The company's net sales during the quarter under review stood at Rs 350.06 crore compared to Rs 172.64 crore in Q2FY10.The revenue share of the EPC business stood at 30.67 per cent, conductors 29.47 per cent, cables 28.28 per cent and transformer business at 16.35 per cent.

During the quarter, the company started trial production at its transmission tower facility at Vadodara that has come up with an investment of 40 crore and has a capacity of 48,000 tonnes per annum.

For the six months period ended September 30, DPIL has posted 105.4 per cent rise in net sales to Rs 731.67 crore and the net profit during this period grew by 133.2 per cent to Rs 58.98 crore.