Punj Lloyd turns profitable in Q2
CMP: Rs.27.50

Punj Lloyd, engaged into engineering, procurement and construction (EPC), today reported a net profit of Rs 22.4 million for the quarter ended Sept. 30, 2013 as compared to net loss of Rs 257.4 million in the same period last year.

Total income increased by 13.12% to Rs 31.32 billion for the quarter ended Sept. 30, 2013 as compared to Rs 27.68 billion in the year ago period.

Speaking on the financial performance, Atul Punj, chairman at Punj Lloyd (Q,N,C,F)* said, ''The industry continues to face challenges of prolonged economic slowdown coupled with high finance costs. Punj Lloyd is aggressively pursuing various steps that are aimed at reducing its financing costs as well as improving operational efficiencies. The group continues to enjoy a healthy order backlog of Rs 208.91 billion.''

Shares of the company gained Rs 1.8, or 6.41%, to settle at Rs 29.90. The total volume of shares traded was 2,059,253 at the BSE (Friday).

Courtesy: Myiris.com