Subhash Projects & Mktg Q2 net profit up 23.16%

Subhash Projects & Mktg Q2 net profit up 23.16%

New Delhi: Subhash Projects & Marketing Ltd., an integrated engineering company announced financial results for Q2 ended September 30, 2007.

The company registered a jump of 23.16% in net profits, which increased to Rs12.39 crore from Rs10.06 crore in the corresponding period last year. EBIDTA rose by 26.58% to Rs27.33 crore from Rs21.59 crore in Q2, last fiscal. Net sales registered an increase of 18.05% rising to Rs228.61 crore from Rs193.65 crore in the same period last year.

The half yearly results also witnessed a jump with sales rising by 56.13% and net profits soaring by 21.25%. EBIDTA increase for the period was 32.64%.

The company would be restructuring on the basis of the Strategic Business Unit (SBU) concept based on recommendation from its advisory Ernst & Young.

Through restructuring, SPML will be divided into five strategic units which will lead to greater focus on not only water management which is its core competence but also target enhanced growth in power and infrastructure which were being handled on a relatively smaller scale till date.

Restructuring will bring into focus five key SBU’s which have been set-up for the purpose. The process of restructuring will give equal importance to five SBU’s namely infrastructure; power transmission and distribution; water; highway & roads; power generation and awards.

Recently awarded with the tag of beign the fastest growing construction company in the construction industry by NICMAR they are also aiming for multisectoral growth.