Nagarjuna Const net down 28%

City-based Nagarjuna Construction Company Limited recorded a 27.78 per cent decline in net profit to Rs 38 crore for the quarter ended March 31, 2009, as compared with Rs 52.62 crore in the corresponding period last year. Revenues decreased 12.58 per cent to Rs 1,099.52 crore as compared with Rs 1,257.79 crore last year

The group posted an 8.28 per cent increase in net profit to Rs 181.34 crore for the year ended March 31, 2009, as compared with Rs 167. 47 crore last year. Total Income increased 31.24 per cent to Rs 4,802.3 crore from Rs 3,658.96 crore.

The order book stands at Rs 12,200 crore. The company has targeted to achieve a turnover of Rs 5,500 crore on a consolidated basis for the year 2009-10. The board of directors has recommended a dividend of Rs 1.10 per equity share for 2008-09.