Gayatri Projects Q2FY11 Net profit up by 7.46% to Rs 11.82 cr

Turnover up by 12.05% to Rs 280.48 cr

Financial Highlights –
Q2 FY11 (all comparisons with Q2 FY10)

• Turnover at Rs. 280.48  crore, up by 12.05% from Rs. 250.31 crore
• Net profit at Rs. 11.82 crore, up by 7.46% from Rs. 11 crore
• EPS for the quarter at Rs. 7.96

Gayatri Projects Limited (GPL), the Hyderabad-based leading infrastructure company has reported a rise of 7.46% in net profit, amounting to Rs. 11.82 crore for the second quarter ended September 30, 2010 as against Rs. 11 crore in the previous quarter of the last fiscal. 

Turnover for the quarter has increased by 12.05% to Rs. 280.48 crore as compared to Rs. 250 crore in the same quarter in the corresponding period of the previous year.

Earnings per share (EPS) were at Rs. 7.96.

Revenue for the half year ended on September 30, 2010 stood at Rs. 623.08 crore up by 15.10% compared to Rs. 541.34 crore from the corresponding period of the last fiscal.

Net profit for the half year ended September 30, 2010 went up by 17.08% to 26.89 crore from Rs. 22.96 crore.

Earnings per share (EPS) for the half year stood at Rs. 18.17.

The Board of Directors of Gayatri Projects Limited at its meeting held today took on record the standalone financial results of the company for the second quarter of FY 2011.

Commenting on the results, Mr. Sandeep Reddy, Managing Director, Gayatri Projects Limited said, “With economy poised to grow and work on all our projects in full swing, we continue to maintain a positive outlook. The result manifests the company’s concerted focus on construction and infrastructure development.”

About Gayatri Projects Limited (GPL):
The company, founded four decades ago, has been engaged in various infrastructure activities in Andhra Pradesh, Assam, Uttar Pradesh, Madhya Pradesh, Karnataka, Gujarat, Maharashtra and Orissa. Among the projects undertaken are national and state highways, dams, reservoirs, ash ponds and major canal works. The company’s present order book value is over Rs. 8,000 crore.