Pratibha Industries Q1 net up 22% at Rs 23crore

NEW DELHI: Pratibha Industries today clocked over 22 per cent increase in consolidated net profit at Rs 22.77 crore for the first quarter ended June 30 on higher revenue.

The company, which is in the business of developing urban infrastructure development, water and construction, had reported Rs 18.63 crore net profit in the same quarter last fiscal.

Pratibha said in a statement that its Q1 turnover rose 55.40 per cent at Rs 561.61 crore in the first quarter of the current fiscal, from Rs 361.39 crore in the year-ago period.

"The quarter has been a fruitful one for us. We have bid for several projects and expect them to materialise in the coming quarters. We won orders worth Rs 1,491 crore in July 2012 and expect this trend to continue," company Managing Director Ajit Kulkarni said.

Pratibha Industries' order-book, as on June 30, stood at Rs 6,613 crore. Scrips of the company today settled at Rs 47.60 apiece at the BSE, up 0.32 per cent over the previous close.