Gayatri Projects net down 44% on lower sales

For the full year 2013-14, Gayatri posted a net loss of Rs 64.96 cr, as against a profit of Rs 9.54 cr in the fiscal 2012-13

Hyderabad-based Gayatri Projects Ltd, which is into infrastructure and power businesses, recorded a 44 per cent fall in net profit for the quarter ended March 31, 2014, at Rs 16.02 crore, as against a net of Rs 28.63 for the corresponding period of previous fiscal.

The drop in profit was mainly on account of a 31 per cent fall in net sales during the quarter at Rs 496.02 crore, as against a sales of Rs 721.02 crore for the same period previous fiscal. Finance costs saw a 79 per cent rise at Rs 42.10 crore, when compared with Rs 23.47.

For the full year 2013-14, Gayatri posted a net loss of Rs 64.96 crore, as against a profit of Rs 9.54 crore in the fiscal 2012-13. Sales figure during the year dipped 19.15 per cent at Rs 1586.25 crore, when compared with Rs 1,962.08 crore in the previous fiscal.

The company informed the BSE the board of directors at its meeting held on May 29, had approved the recommendation of dividend of Rs 2 per equity share of Rs 10, subject to the approval of shareholders in the ensuing annual general meeting.

Nava Bharat net drops 13% in Q4

Hyderabad-based diversified company Nava Bharat Ventures Ltd saw a 13 per cent drop in standalone net profit at Rs 46.27 crore for the fourth quarter ended March 31,2014, as against a standalone net of Rs 53.62 crore for the same period previous fiscal.

Net sales during the quarter was higher 7.36 per cent at Rs 314.39 crore, when compared with Rs 292.81 crore for the same period previous fiscal.

However, profit for the full year 2013-14 registered a 47 per cent jump at Rs 279.90 crore, as against a net of Rs 190.36 crore it posted in 2012-13. The rise in profit during the fiscal was mainly on account of higher sales and a lower net tax.

Net sales during the full year increased 51.25 per cent at Rs 1,727.55 crore, as against the sales of Rs 1,142.16 in the year ago fiscal. Net tax expense in the last fiscal was 44.65 per cent lower at Rs 35.49 crore, when compared with Rs 64.12 crore in the previous fiscal. Other income during was higher at Rs 93.54 crore as against Rs 79 crore a year ago.

While revenues from ferro alloys and sugar during the year was almost same as the previous fiscal, power segment revenues shot up 76.90 per cent at Rs 1,188.95 crore, when compared with Rs 672.08 crore in the previous year, a release stated on Friday.