Shriram EPC Dec qtr net up 18% to Rs 8.8 cr

Shriram EPC, the integrated design, engineering, procurement and construction service provider, today reported net profit at Rs 8.80 crore for the quarter ending December 31, 2010, up by 18.27% over the same period last year.

The Chennai-based company reported a net profit at Rs 7.44 crore during the same period last year.

For the nine months ending December 31, 2010, net profit more than doubled to Rs 54.88 crore as against Rs 24.55 crore registered in the year-ago period, a company statement said.

The total income for the quarter ending December 31, 2010 rose to Rs 279.79 crore from Rs 240.39 crore registered during the same period last year.

For the nine months ending December 31, 2010, the total income was at Rs 838.87 crore against Rs 635.87 crore registered in the same period of previous year, it said.

"I am pleased to report healthy operations and financial performance during the quarter. The growth momentum in the EPC segment continues with process and metallurgy vertical dominating the service mix. With continued momentum in the order book, we look forward to a strong fourth quarter...", Shriram EPC Managing Director and CEO T Shivaraman said.

Besides China, Shriram EPC currently has operations in Mumbai, Delhi, Kolkata and has cooling tower factories in Puducherry, Chennai and Gujarat, the statement added.