Net profit for jumps 65% to Rs 6.5 cr; Eps stands at Rs 6.75
Q2FY11 vs Q2FY10
- Net Sales at Rs 73.19 cr vs 40.15 cr; up by 82%
- EBITDA at Rs 10.35 cr vs Rs 6.76 cr: increase by 53%
- PAT at Rs 6.5 cr vs 3.9 cr: increase by 65%
- EPS for the quarter stood at Rs 6.75 on enhanced capital
H1FY11 vs H1FY10
- Net Sales at Rs 108.7 cr vs Rs 71.7 cr; up by 52%
- EBITDA at Rs 16.12 cr vs Rs 12.5 cr; increase by 29%
- PAT at Rs 9.7 cr vs Rs 7.1 cr: up by 36%
- EPS for H1FY11 stood at Rs 10.05 on enhanced capital
Technofab Engineering Limited (TEL) (BSE:533216, NSE :TECHNOFAB) , engaged in the business of providing EPC services, and executing a wide range of Balance-of-Plant (BoP) and electro-mechanical projects on a complete turnkey basis has today announced its financial results for the second quarter ended 30th September 2010.
The company registered a jump of 65% in net profit to Rs 6.5 crore compared to Rs 3.9 crore for same quarter previous year. During the same period, company’s Net sales increased by 82% to Rs. 73.19 crore from Rs 40.15 crore in Q2FY10. EBIDTA for Q2FY11 increased by 53% to Rs.10.35 crore compared to Rs.6.76 crore in Q2FY10.
For the half year ending September 30, 2010, the company’s net sales increased by 52% to Rs 108.70 crore compared to Rs 71.7 crore in the corresponding period last year. For the same period EBIDTA has increased by 29% to Rs 16.12 crore while net profit has increased by 36% to Rs 9.7 crore.
The Order Book of the company stood at over Rs 600 crore as on 30th September 2010 with orders worth of Rs 185 crore being added during first half of current fiscal.
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Commenting on the growth, Mr. Avinash Gupta, Chairman and Managing Director, Technofab Engineering Limited said, “The second quarter of the fiscal has been very encouraging for us at Technofab Engineering. With the fund raised through IPO, we are committed to continue the growth momentum for the rest of the period current fiscal. We are expecting to reach a revenue of about Rs 300 crore and a net profit of about Rs 27-28 crore for the financial year ending March 2011.”
During the quarter, Technofab Engineering has acquired Woodlands Instruments Pvt Ltd thereby making it a 100% subsidiary. Woodland Instruments is a small boutique company in business of marketing & logistical support services for projects within oil & gas segment since 1987.
“This acquisition will help us to further strengthen our marketing & execution capabilities for Oil & Gas sector EPC business, added Mr. Avinash Gupta.
About Technofab Engineering Limited:
Technofab Engineering Limited, incorporated in the year 1971, is engaged in the business of providing Engineering Procurement and Construction (EPC) services, and executing a wide range of Balance-of-Plant (BoP) and electro-mechanical projects on a complete turnkey basis. The Company is ISO 9001:2000 accredited for Engineering Procurement and Construction of Engineered Systems on Complete Turnkey basis in Core, Energy and Infrastructure Sector Projects. With an experience of 39 years the Company provides services to domestic and overseas markets across a number of industrial and infrastructure sectors which includes conventional power, nuclear power, oil & gas, water & waste water treatment, electrical distribution & rural electrification and other industrial & infrastructure sectors.