IVRCL Q1 net up 31.5% at Rs 22 cr

MUMBAI: Construction and infrastructure company, IVRCL Infrastructures and Projects Limited (IVRCL) on Monday posted an increase of 31.5 per cent in net profit after tax at Rs 21.7 crore for the quarter ended June 30, against Rs 16.5 crore for the same quarter in 2005-06.

The gross income from operations increased 44.32 per cent to Rs 434 crore for the quarter ended June 30, from Rs 300.7 crore in the corresponding quarter a year ago, the company informed the National Stock exchange.

The earnings before interest, depreciation and tax (EBIDT) increased to Rs 37.5 crore for the first quarter ended June 30 from Rs 24.3 crore in the same quarter of the previous year.

The net profit (PAT) increased 31.5 per cent after absorbing a notional charge of Rs 5 crore towards foreign exchange translation loss on outstanding Foreign Currency Convertible Bonds (FCCB) as on June 30, this year, it added.

The shares of the company closed at Rs 189.40, down 3.22 per cent at the NSE.