Hyderabad-based infrastructure major Nagarjuna Construction (NCCL) posted a marginal 2.94 per cent increase in its net profit at Rs 37.09 crore for the quarter ended June 30, 2008, as against Rs 36.03 crore in the corresponding quarter last year. Turnover for the quarter grew 27.39 per cent to Rs 972 crore, as against Rs 763 crore during the same period last year.
“The company’s profitability had been adversely affected by the steep hike in steel and cement prices in the first quarter, the key raw materials used in the construction industry,” YV Murthy, executive vice-president (finance), NCCL, said.
In the current year, NCCL has so far secured orders aggregating Rs 1,802 crore and its order book stands at Rs 12,155 crore as at the end of the first quarter.
