Engineers India today reported a marginal 5.1 per cent rise in its standalone net profit at Rs 108.8 crore for the quarter ended March 31, 2015.
The company's standalone net profit in the year-ago period was Rs 103.5 crore, it said in a regulatory filing.
Total income from operations for the quarter increased to Rs 568.4 crore, over Rs 562.8 crore in the same period of FY14, it said.
The company posted a standalone net profit of Rs 307.9 crore for the year ended March 31, 2015 as compared to Rs 479.7635 million in the preceding fiscal.
Total income for the entire fiscal decreased to Rs 1986.1 crore as against Rs 2,055.67 crore in the year ended March 31, 2014.
Engineers India further said its board in a meeting held today has approved the entering into a transaction with Ramegundam Fertilizers and Chemicals (RFCL) for EPCM (engineering, procurement, and construction management) services "at a lumpsum, price of Rs 190 crore plus service tax, incentive and additional charge on man day rate basis for visit to vendor office..."
It had also entering into an pact with RFCL in respect of rendering of services towards selection of technology licensor on cost reimbursable basis, it added.
"Further, it has also been approved by the Board that the above said transactions shall be put up in the General Meeting of the shareholders for their post-facto approval by passing a special resolution as per the statutory requirement in this regard," it added.
Shares of the company were trading at Rs 197.10 apiece on the BSE, down 0.15 per cent from the previous close.
