Gemini Communications Q4 net jumps 3-fold

Telecom infrastructure solutions provider Gemini Communication today posted over three-fold jump in net profit to Rs 15.75 crore for the quarter ended March 31, 2011.

The company had reported a net profit of Rs 4.82 crore for same period last year.

Net sales of the company for the reported quarter were Rs 238.10 crore compared to Rs 110.92 crore for same period in last year.

For the year ended March 31, 2011, the company's net profit nearly doubled to Rs 64.51 crore compared to Rs 32.26 crore posted for FY10.

The company reported net sales of Rs 528.57 crore, an increase of close to 51% compared to Rs 350.78 crore in for FY10.

In FY11, Gemini forayed into providing alternate energy solutions using renewable forms of energy. The company signed a contract with a telecom service provider for powering their telecom towers through solar energy.

The company also won two-year managed services contract from a BTS (Base Tower Station) manufacturer for 4500 sites.

Gemini received a major share of the business in telecom outsourcing from two leading wireless broadband service providers, the company said in its statement filed at BSE.

"We have strong order book position of approximately Rs 375 crore at the beginning of FY12 with orders from existing businesses expected to contribute another Rs 250 crore," said R Ramkumar, Chairman, Gemini Communications in his comment on the outlook for FY12.

"Our decade-old experience in telecom has helped us gain a strong understanding of the dynamics of this sector and address the attractive opportunities in this space," Ramkumar added.

The share of the company closed at Rs 23.55, up by 18.34% compared to its previous close on the BSE.