Era Infra Engineering today posted a 73 per cent decline in profit to Rs 62.18 crore for the fourth quarter ended March 31, compared to Rs 107.62 crore for the corresponding period a year earlier.
However, net sales of the Delhi-based engineering company rose to Rs 980.9 crore during the January-March quarter of the 2009-10 financial year from Rs 952.5 crore in the same quarter a year ago, it said in a statement.
In the quarter ending March, 2009, the company had other income of Rs 64.28 crore, out of which Rs 62.55 crore was on account of reversal of foreign currency fluctuation losses incurred by company in the previous three quarters on FCCBs, it said.
For the full financial year ended March, 2010, it reported a profit of Rs 279.40 crore, up 38 per cent as against Rs 202.61 crore in the previous fiscal.
The company is hopeful that it will be able to achieve a growth of 40-45 per cent in the next financial year, mainly on the back of a strong order book.
"As of now, we have an order book of over Rs 10,000 crore and these projects will be executed in the next two years. We hope to achieve a growth of 40-45 per cent in current fiscal," Era Infra Group CFO Joy Saxena said.
The company has declared a dividend of Rs 0.40 per share.
Shares of Era Infra today settled at Rs 212, down by 0.24 per cent on the Bombay Stock Exchange.