Mumbai: Construction company Gammon India on Friday said its net profit for the quarter ended March 31, 2009 stood at Rs72.63, while it had a net profit of Rs21.29 crore in the same quarter ended March 2008.
The financial statements include the amalgamation of the company with the erstwhile Associated Transrail Structures Ltd (ATSL). Hence, the figures for the current year and the last quarter ended 31 March, 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 Rs1,905.84 crore for the quarter ended March 2009, against Rs821.61 crore in same period last year.
For the year ended 31 March, 2009, the company has posted a net profit of Rs140.47 crore, however it had a net profit of Rs86.15 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 30 lakh convertible warrants to Pacific Energy, 65 lakh convertible warrants to First Asian Capital Resources and 65 lakh convertible warrants to Devyani Estate & Properties, the BSE filing added.
The warrants are convertible for cash at a price of Rs90.20 per share, the filing said.