Diamond Power Q2FY11 Net Sales surges 102.8% at Rs 350.07 cr

Diamond Power Infrastructure Limited (DPIL), an integrated turnkey power player with strong presence in cables and transformers, today announced its results for the second quarter ended September 30, 2010.

Q2FY11 Performance
DPIL posted a 102.8 per cent rise in net sales at Rs 350.06 crore for the second quarter-ended September 30, 2010 compared to Rs. 172.64 crore in the corresponding quarter last fiscal year. During the quarter, the revenue share of EPC business stood at 30.67 per cent, conductors 29.47 per cent, cables 28.28 per cent and transformer business at 16.35 per cent.

Net Profit during the quarter under review grew by 66 per cent to Rs. 27.76 crore compared to Rs. 16.72 crore in the corresponding quarter-ended September 30, 2009. EBITDA during the quarter under review increased by 76.7 per cent to Rs. 49.61 crore compared to Rs. 28.07 crore in the corresponding quarter last year.

As on September 30, 2010, the company’s order backlog stood at Rs-- crore. Further, during the quarter, the company started its trial production at its transmission tower facility at Vadodara at an investment of 40 crore with a capacity of 48,000 MT per annum.

H1FY11 Performance
For the six months period ended September 30, 2010, the DPIL has posted 105.4 per cent rise in net sales at Rs. 731.67 crore compared to Rs 356.16 crore in the corresponding period corresponding last fiscal year. Net profit during this period grew by 133.2 per cent at Rs. 58.98 crore as compared to Rs. 25.29 crore in the corresponding period last year EBITDA for the half year ended September 30, 2010 increased by 109.5 per cent to Rs. 104.2 crore compared to Rs. 49.74 crore.

About Diamond Power Infrastructure Ltd (BSE code: 522163)
Diamond Power Infrastructure (DPIL) is an integrated turnkey player with strong presence in cables and transformers. It manufactures a complete range of products to cater the Power transmission & distribution sector. Its product range includes EC grade Aluminium wire Rods, Aluminium Alloy Rods, Aluminium Conductors Steel Reinforced (ACSR) and All Aluminium Alloy Conductors (AAAC), Specialty Cables, LT Electrical Power Cables, Control & Instrumentation Cables and are sold under ‘DICABS’ brand. With its product profile, the company has an in-house control over 80 per cent of average cost of an EPC project.