Construction company Gammon India today said its net profit for the quarter ended March 31, 2009 stood at Rs 72.63, while it had a net profit of Rs 21.29 crore in the same quarter ended March 2008.
The financial statements include the amalgamation of the company with the erstwhile Associated Transrail Structures(ATSL).
Hence, the figures for the current year and the last quarter ended March 31, 2009 are not comparable with those of the previous year, Gammon India said in a filing to the Bombay Stock Exchange (BSE).
Net sales rose to Rs 1,905.84 crore for the quarter ended March 2009, against Rs 821.61 crore in same period last year.
For the year ended March 31, 2009, the company has posted a net profit of Rs 140.47 crore, however it had a net profit of Rs 86.15 crore in the same period previous year.
Further, the board of directors has approved to allot 1.60 crore convertible warrants to three promoters of the company on preferential basis.
The company has alloted 3 million convertible warrants to Pacific Energy, 6.5 million convertible warrants to First Asian Capital Resources and 6.5 million convertible warrants to Devyani Estate & Properties, the BSE filing added.
The warrants are convertible for cash at a price of Rs 90.20 per share, the filing said.
