ARSS Infrastructure Projects Ltd, a city-based infrastructure firm engaged in the construction of roads, highways, bridges, irrigation projects and EPC (Engineering, Procurement and Construction) activities, has reported a 205.6 per cent jump in its net profit for the quarter ended September 30.
The company's net profit in the July-September period stood at Rs 16.72 crore compared to Rs 5.47 crore which it had recorded in the same period of 2009-10.
The company's turnover soared by 206 per cent in the said quarter at Rs 200.72 crore while earnings per share went up from Rs 5.47 to Rs 11.27, an increase of 158.4 per cent.
“We are seeing a strong demand environment across our industry verticals. Due to this, we have gained substantially over the past few months which have helped us expand our revenue and profit base. We expect that the same trend will continue and hope to see a good set of numbers in the next quarter as well. The last quarter has been extremely profitable as we have bagged orders at a rapid pace”, Sunil Aggarwal, chief executive officer of ARSS Infrastructure Projects Ltd said in a company release.In the July-September period of this fiscal, the company bagged an order worth Rs 1360.50 crore from the Orissa government for building a bus terminal, commercial and residential apartments.
It also bagged an order worth Rs 36.31 cr from Steel Authority of India Ltd (SAIL) for construction and up gradation of railways tracks for yards of Rourkela Steel Plant (RSP), a unit of SAIL.
