Supreme Infrastructure Q3 FY12 profit rises
Supreme Infrastructure has posted a 32 per cent rise in net profit at Rs25 crore for the quarter ended December 31 2011, as compared to Rs19 crore for quarter ended December 31, 2010.
The Total Income for the third quarter rose to Rs411 crore, up by 71 per cent, as compared to Rs241 crore of the corresponding period of the previous fiscal.
During the quarter, the company completed five orders worth Rs702 crore including its first marine project, Kasheli Bridge, in Thane, near Mumbai. Supreme added orders worth Rs630 crore (including L1 orders) in segments such as buildings, bridges and roads. Another significant development in the quarter was the $61 million investment made by 3i Infrastructure Fund for a minority stake in four road BOT projects.
Vikas Sharma, whole time director, Supreme Infrastructure said, “We have added good number of orders in different geographies and across business verticals. We have begun to witness improvement in business sentiment leading us to believe that we shall soon see increased activities in the infrastructure space. Our deal with 3i Infrastructure Fund will further improve business fundamentals for us and create value for all stakeholders of the company.”