Gayatri Projects Ltd has posted a higher net profit of Rs. 28.50 crore for the fourth quarter ended March 31, 2016, as against a profit of Rs. 15.95 crore for the corresponding quarter last year on a standalone basis.
The income for the fourth quarter was up at Rs. 668.21 crore as against Rs. 560.08 crore for the corresponding quarter last year.
For the financial year ended March 31, 2016, the Hyderabad-based infrastructure company posted a net profit of Rs. 58.64 crore and income of Rs. 1,812.21 crore as against a net profit of Rs. 22.05 crore and income of Rs. 1,601.14 crore in the previous financial year.
On a consolidated basis, the company posted a profit of Rs. 1.22 crore for the year ended March 2016 and an income of Rs. 1,620.40 crore and a loss of Rs. 31.69 crore and income of Rs. 1,500.76 crore for the previous financial year.
The company has entered into an agreement with Cube Highways and Infrastructure PTE Ltd for divestment of its stake in Western UP Tollways Ltd. However, the exact sale price is under final negotiation.
The board of directors of the company has approved dividend @ 20 per cent (Rs 2 per equity share of Rs. 10) on the paid-up capital of the company subject to the approval of shareholders in the ensuing annual general meeting.
source: Businessline
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