Engineering procurement and construction major BGR Energy has reported a 16.9% dip in its standalone net profit at Rs 50.25 crore for the quarter ended June 30.
The city-headquartered firm had reported net profit of Rs 60.54 crore in the year-ago period, a company statement here said.
For the year ended March 31, 2011 the net profit stood at Rs 3,242.1 crore. Net sales for the quarter ended June 30, 2011 also dipped to Rs 731.18 crore as against Rs 905.43 crore in the same period previous year.
However, the EBITDA of the company grew by 1.68% at Rs 96.08 crore during the quarter, it said.
"With coal linkage and environmental issues heading for resolution, contract awards for capacity addition from public sector segments is set to significantly increase in the current financial year," BGR Energy Chairman and Managing Director BG Raghupathy said.
"BGR Energy is well positioned to service this demand and thereby capture a substantial market share," he said.
The contribution in this quarter has been led by BoP income, he said.