Era Infra Engg net declines 42%

Delhi-based Era Infra Engineering saw its net profit decline 42.22 per cent to touch Rs 62.18 crore for the quarter ended March 31, 2010. It stood at Rs 107.62 crore a year before.

Net sales, however, rose marginally by 3 per cent to touch Rs 980.9 crore as against Rs 952.5 crore a year before.

For the quarter under review, the company also had other income of Rs 64.28 crore, of which Rs 62.55 crore was on account of reversal of foreign currency fluctuation losses incurred by the company in the previous three quarters due to foriegn currency convertible bonds (FCCBs), it said.

For the full year ended March 31, 2010, the company reported a profit of Rs 279.4 crore, up 38 per cent, as against Rs 202.6 crore last year.

The company also declared a dividend of Rs 0.4 per share, it said.