Punj Lloyd net profit up 43%

Buoyed by a 24 per cent growth in revenue, engineering and constructionfirm Punj Lloyd Group on Monday reported around 43 per cent growth inconsolidated net profit for the quarter ended September 30, at Rs 30 crore.

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

The revenue of the company for the quarter went up to Rs2,459 crore during the July-September quarter of the current fiscal over Rs1,991 crore in the year-ago period.

"The current financial year has shown promising growthin our order inflow which has translated into an increase in topline. Ourstrategy has been validated by focusing on global markets," Punj LloydGroup Chairman Atul Punj said.

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

"While the Indian environment has challenges of highinterest rates, high work capital and rising commodity prices, we remaincautiously optimistic owing to our strong order book, geographical and businessdiversification," he said.