Punj Lloyd Group Q2 Net up 43%

The company had clocked Rs 21 crore net profit in the corresponding quarter last fiscal.

Buoyed by a 24 per cent growth in revenue,engineering and construction firm Punj Lloyd Group today reported around 43 per cent growth in consolidated net profit for the quarter ended September 30,at Rs 30 crore.

The company had clocked Rs 21 crore net profit in the corresponding quarter last fiscal,it said in a statement.

The revenue of the company for the quarter went up to Rs 2,459 crore during the July-September quarter of the current fiscal over Rs 1,991 crore in the year-ago period.

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“The current financial year has shown promising growth in our order inflow which has translated into an increase in topline. Our strategy has been validated by focusing on global markets,” Punj Lloyd Group Chairman Atul Punj said.

Punj said that the company received orders worth Rs 10,286 crore in the first of the current fiscal,which is more than Rs 9,978 crore orders bagged by the company in the entire last fiscal.

“While the Indian environment has challenges of high interest rates,high work capital and rising commodity prices,we remain cautiously optimistic owing to our strong order book,geographical and business diversification,” he said.

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