Andhra Pradesh - Hyderabad   

Infrastructure companies reap profits

HYDERABAD: Infrastructure companies based in Hyderabad continue to ride on the crest of profits.

IVRCL and its allied companies, Nagarjuna Constructions, Gulf Oil with its varied interests including infrastructure, ICSA (India) and Bhagyanagar India have all posted profits in the third quarter of this fiscal as compared to the corresponding period last year.

The IVRCL group turnover recorded an increase of 85 per cent from Rs.1, 582 crore in nine months ended December 2006 to Rs.2, 920 crore for the nine months period ended December 31, 2007.

The group turnover for the third quarter increased by 113 per cent at Rs.1, 356 crore (against Rs.638 crore last year). The net profit of the group increased to Rs. 185 crore (Rs.40 crore in last Q3).

Nagarjuna Constructions Company Ltd (NCC) posted a net profit of Rs. 39.64 crore with its turnover reaching Rs. 781 crore (Rs. 700 crore last year). The nine-month turnover was Rs. 2,221 crore. The company secured orders for Rs. 4,501 crore, while its order book stood at Rs. 9,750 crore.

Net profit of Bhagyanagar India Ltd went up to Rs. 9.38 crore (Rs. 6.87 crore last year) and revenues posted a hike at Rs. 71.31 crore against Rs. 49.04 crore. The company would set up a solar photovoltaic cell project in joint venture with Surana Telecom and Power Ltd.

ICSA (India) Limited, a power transmission stations and sub-stations building company, posted a 100 per cent growth in net profit to Rs. 36.24 crore (Rs. 18.13 crore last year). The total income increased to Rs. 192 crore (Rs.94.85 crore last year)

Gulf Oil Corporation, a Hinduja Group company, reported a 25 per cent increase in income in Q3. The net profit was Rs. 6.54 crore (Rs. 6.53 crore last year). For the nine months period ended on December 31, 2007, the turnover increased to Rs. 587 crore.

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