ICSA Q2 net declines 23%

ICSA (India) Ltd, provider of embedded technology solutions and infrastructure deployment services for the power sector, reported a 23 per cent decline in profit after tax to Rs 29.44 crore during the quarter ended September 30, 2010 as against Rs 38.48 crore for the corresponding period last year.

Company’s income from operations, stood at Rs 325.38 crore in the quarter ending September 30, 2010 as against Rs 311.12 crore in the same period last year, an increase of 4.58 per cent.

As a result Basic EPS for the quarter ending September 30, 2010 also declined by 24.11 per cent to Rs 6.20 from Rs 8.17 for the corresponding period last year.

The total order book for the company as on September 30, 2010 stands at Rs 1892 crore. The order book for ESS segment stands at Rs 232 crore and that of IPS segment stands at Rs 1660 crore as on September 30, 2010.

Commenting on the result, G. Bala Reddy, Managing Director, ICSA (India) Ltd said: “This quarter passed as we expected and according to us it went well. Infrastructure segment contributed 67 per cent to the overall revenues with ESS segment contributing 33 per cent. IPS revenues increased by 8 per cent on a quarter on Quarter basis but the ESS revenues remained flat. Similarly, margins at the operating level were sustained at 28 per cent for ESS segment and 11.9 per cent for IPS segment."