Infrastructure company, IVRCL's fourth-quarter (January-March) net profit fell 25% to Rs 64.25 crore, well below market expectation, as total expenses rose due to hardening interest rates and rising input costs.
Total income in the quarter under review rose by just 9% to Rs 2,051.60 crore, the company said in a press release to the stock exchanges Monday.
Analyst polled by CNBC-TV18 had forecast a 22% rise in IVRCL fourth-quarter total income at Rs 2299 crore versus Rs 1890 crore a year ago. Net profit was seen up 17% at Rs 100 crore versus Rs 85 crore.
IVRCL said that its current healthy order book positions of Rs 23,979 crore would help sustain its growth momentum. Earlier Monday, the company said its water, buildings, power and transportation divisions have won orders worth Rs 893.66 crore.
Source: www.moneycontrol.com
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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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