*Punj Lloyd*, a leading engineering and construction company has posted a consolidated net loss after minority interest and share of profits of associates at Rs 2,256.20 million for the quarter ended Dec. 31, 2008 as compared to net profit after minority interest and share of profits of associates of Rs 917.20 million for the quarter ended Dec. 31, 2007.
The company reported an increase of 47.37% in consolidated sales to Rs 31,199.7 million for quarter ended Dec. 31,08 as against previous year sales of Rs 21,170.4 million in quarter ended Dec.31, 2007. The company reported a phenomenal rise in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company rose 2.28 times to Rs 893.30 million from Rs 391.60 million in the same quarter previous year. Net sales for the quarter surged 45.58% to Rs 18,106.80 million, while total income for the quarter jumped 43.95% to Rs 18,111.20 million, when compared with the prior year period. *Quarterly Results - Standalone (Rs in mn)* *As at* *Dec - 08* *Dec - 07* *%Change* *Net Sales* 18,106.80 12,437.50 45.58 *Net Profit* 893.30 391.60 128.12 *Basic EPS* NA 1.33 - During the quarter, interest cost increased 2.40 times to Rs 573 million while depreciation cost fell 1.39% to Rs 290.20 million over previous year period. Commenting on the results, *Atul Punj, chairman, Punj Lloyd Group*, ``Despite a difficult macro environment, I am happy to report encouraging growth in the volume of business and operating levels. The results were adversely impacted owing to provisions made in one of the long term contract and volatilities in currencies. We have won prestigious contracts from Cairn Energy India Limited and Housing and Infrastructure Board (HIB) of Tripoli which demonstrates the reputation of the Group and its capabilities in executing unique and challenging projects both in India but also abroad. We also bagged orders from Municipal Corporation of Delhi and Airports Authority of India. `` He further added, ``Our focus continues to be on expanding the order book with high profile credentials and ensuring that the order inflow is higher than the order burn out. Our global business presence and diversified business model gives us the confidence to maintain a robust outlook of our performance even when there is a slowdown in some geographies. `` As on Dec.31, 08, Punj Lloyd Group had an order book backlog of Rs. 219.08 billion. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
