Business Daily from THE HINDU group of publications
Saturday, May 30, 2009
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Business Daily from THE HINDU group of publications Saturday, May 30, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate Results
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Real Estate & Construction Nagarjuna Const Q4 net, turnover slip Our Bureau Hyderabad, May 29 Nagarjuna Construction Co Ltd (NCCL) has seen a significant fall in both net profit and turnover for the fourth quarter ended March 31, 2009. While the net profit fell by 39 per cent at Rs 38 crore (Rs 53 crore), the Hyderabad-based, infrastructure major’s turnover declined by 14.3 per cent at Rs 1,100 crore (Rs 1,258 crore) for the quarter under review. There was pressure on the profit margins during the quarter due to a combination of factors. These include the general macro economic conditions, high interest rates, raw material costs and losses in some of the road projects, Mr Y.D. Murthy, Executive Vice-President (Finance), of NCCL told Business Line. The company also fell short of its guidance of achieving a turnover of Rs 4,500 crore for fiscal 2008-09 on a standalone basis, due mainly to some of these factors, he explained. For the full year NCCL reported a turnover of Rs 4, 156 crore (Rs 3,478 crore), a growth of 19 per cent. The net profit saw a slight drop at Rs 154 crore (Rs 162 crore). The company has reported a basic EPS of Rs.6.72 for the year 2008-09 on stand alone basis as against Rs 7.41 of the previous year. The order book stood at Rs.12, 200 crores as on March 31, 2009. The Board of Directors at their meeting held on Thursday recommended an equity dividend of Rs 1.10 for each equity share of Rs 2 face value (55 per cent) subject to the approval of Shareholders at the Annual General Meeting. According to the Business Plan for the Financial Year 2009-10 approved by the board, the company has targeted a turnover of Rs 4, 800 crore on a standalone basis. Nagarjuna Const bags 4 orders Nagarjuna Const sees big biz on SEZs Blackstone to invest Rs 615 cr for stake in Nagarjuna Const More Stories on : Real Estate & Construction
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