Power Mech Q3 net up 31% at Rs 20 crore

Total income up 10% at Rs 355 cr, EBITDA up 22% at Rs 48 cr

Hyderabad-based power infrastructure services company Power Mech Projects Limited has reported a 31.61 per cent jump in net profit at Rs 20.36 crore for the quarter ended December, 2015 as compared with Rs 15.47 crore in the corresponding quarter previous year.

Total income for the quarter grew 9.86 per cent at Rs 354.8 crore as compared with Rs 323 crore in the corresponding previous quarter. Power Mech's earnings before interest, tax, depreciation and amortisation (EBITDA) in the quarter under review stood at Rs 48 crore, up by 21.73 per cent, as compared with Rs 39.45 crore in the year ago period.

Commenting on the financial performance of the company, S Kishore Babu, chairman and managing director of Power Mech said in spite of a gloomy scenario in the power sector the company was able to deliver a better performance during the quarter. Power Mech's operations include three business lines-erection works, operation and maintenance (O&M) and civil works.