- Q2FY12 Net sales up 19 % at Rs 130.78 crore
- Q2FY12 Profit from operations jumps 54 % to Rs 7.04 crore
- Announces issue of 22:1 bonus shares to shareholders
- Authorised Capital increased to Rs. 100 crore
- Board recommends stock-split in 10:1 ratio
DPSC Limited (formerly known as Dishergarh Power Supply Company Ltd), one of the oldest power utility companies in India, today reported its financial performance for the quarter and half year ended September 30, 2011.
Net sales for the second quarter ended September 30, 2011 stood at Rs 130.78 crore, registering a growth of 19%, as compared to Rs 109.83 crore in the same period last year.
Net profit for Q2FY12 increased by 5% to Rs 3.13 crore, as compared to Rs 2.99 crore during the corresponding period previous year.
The EBITA for the quarter ended September 30, 2011 stood at Rs 7.71 crore, up 50 % as against Rs 5.13 Crore in Q2FY11. Earnings per share for Q2FY12 stood at Rs 7.33 as compared to Rs 7.02 for the same period of last fiscal.
The average T&D Loss for Q2FY12 was at 3.2%.
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For the half year ended September, 2011, DPSC Ltd’s net sales grew by 36% to Rs 283.42 crore as compared to Rs 208.04 crore in the same period last year. Net profit for H1FY12 rose by 9% to Rs 6.93 crore, as against Rs 6.33 crore during the corresponding period previous year.
The EBITA during the first half of current financial year stood at Rs 13.86 crore, up 41% as against Rs 9.81 Crore in Q2FY11. Earnings per share for H1FY12 stood at Rs 16.22 as compared to Rs 15.58 for the same period of last fiscal.
The Board of Directors of DPSC Ltd proposed, subject to shareholders approval, issue of bonus shares in the ratio of 22 equity share for every 1 equity share held in the Company. The Bonus shares distributed shall for all purposes be treated as increase in the nominal value of the share capital of the Company by each member and not as income.
The board also recommended for the sub-division of equity shares of the company in the ratio of 10:1.
Commenting on the quarterly financial performance of the company, Mr. Hemant Kanoria, Chairman, DPSC Ltd, said that “We have maintained healthy pace of growth in our net sales for yet another quarter and are confident to maintain the same. Our Transmission and Distribution loss recorded at 3.2% has yet again created a benchmark in operational efficiency in the industry and will go down further with the completion of our network upgradation. Our Company in this century has achieved several significant milestones and is progressing towards a centenary. The issue of bonus shares is in recognition of the invaluable support of the stakeholders and shows our commitment to reward our shareholders for their trust in us.”
Meanwhile, the board has also approved to increase the authorized share capital of the company upto Rs 100 crore from Rs. 5 Crore of present.