Infra Q1 net up 15% at Rs 43 cr; IVR Prime net up 5-fold

Engineering firm IVRCL Infrastructures & Projects today reported a net profit of Rs 43.49 crore for the first quarter ended June 30, a 14.84 per cent growth over the corresponding quarter a year-ago.     

The Hyderabad-based firm had a net profit of Rs 37.87 crore in the first quarter of previous fiscal, IVRCL Infra said in a filing to the Bombay Stock Exchange.     

The total income rose 37 per cent to Rs 931.07 crore for in the June quarter, from Rs 676.60 crore in the year-ago period.     

Further, IVRCL Group's realty arm IVR Prime announced a net profit of Rs 5.44 crore for the first quarter, a five-fold growth from that in the corresponding period a year-ago. The firm had a net profit of Rs 1.5 crore in June quarter FY08.     

The total income rose to Rs 32.25 crore in the quarter under review, from Rs 20.84 crore in the same period last year.     

The IVRCL Group turnover rose 39 per cent to Rs 1,065 crore in the June quarter, from Rs 766 crore in the corresponding period previous fiscal.     

Shares of IVRCL Infra were trading at Rs 306.00, down 1.03 per cent and that of IVR Prime were trading at Rs 178.15, down 3.91 per cent in the the afternoon trade on the BSE.