• Operating profit margin stand contract by 140 bps to 9.5% as result of change in project mix and stage at project cycle. While staff cost as proportion to sales was flat, the other cost heads have increased. The material cost was up by 10 bps to 76%, the labour cost was up by 50 bps to 6.4% and other expenses were up by 90 bps to 6.2%.
• Other income though stood lower by 17% to Rs 1.50 crore, hurt by higher interest (up 1% to Rs 28.05 crore) and depreciation cost (up 293% to Rs 14.76 crore), the PBT was lower by 40% to Rs 18.36 crore.
• Tax provision stood lower by 78% (to Rs 3.60 crore) and the tax rate stood lower at 19.6% compared to 54.2% in corresponding previous period. Thus spurred the net profit was up by 5% to Rs 14.76 crore.

Yearly Performance

Consolidated sales were higher by 19% to Rs 2342.43 crore. But with OPM stand contracted by 130 bps to 10.8% the growth at operating profit was restricted to 6% to Rs 252.26 crore. The other income was higher by 97% to Rs 6.19 crore. The interest and depreciation cost was higher by 12% and 64% respectively to Rs 113.03 crore and Rs 33.15 crore. Thus the PBT de-grew by 5% to Rs 112.27 crore. After accounting for a taxation of Rs 23.97 crore (down 36%) the growth at PAT level was higher by 8% to Rs 88.30 crore.

Other developments

Subject to the shareholders' approval, the board of Directors has recommended a dividend of Rs 1.50 per share of face value of Rs 10 each.

Stock hovers around Rs 121.15.