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Our Bureau

Hyderabad , Oct. 30

IVRCL Infrastructures & Projects Ltd has reported a growth of 48 per cent in gross turnover, and 39.23 per cent in net profit for the second quarter of the current fiscal ended September 2006.

As per the unaudited financial results, the company achieved a gross turnover of Rs 369.35 crore (Rs 249.67 crore) and a net profit of Rs 15.56 crore (Rs 11.18 crore). This translates into an EPS of Rs 1.43 per share of Rs 2 each as against adjusted EPS of Rs 1.08 in the corresponding quarter of the previous fiscal.

In a press release here, the IVRCL Chairman and Managing Director, Mr E. Sudhir Reddy, said the company achieved the targeted turnover of Rs 803.66 crore for the half year ended September 2006, recording a growth rate of 48 per cent over Rs 544.4 crore of turnover in the corresponding previous year period.

During the first half, the net profit rose by 39 per cent to Rs 36.58 crore (Rs 27.63 crore). This translates into an EPS of Rs 3.37 per share of Rs 2 each as against the adjusted EPS of Rs 2.67 per share in the corresponding half of the previous fiscal.

Hindustan-Dorr Oliver, a subsidiary of IVRCL, improved its turnover by 43 per cent to Rs 44.02 crore (Rs 30.79 crore) for the second quarter under review. The net profit increased to Rs 3.93 crore (Rs 39 lakh). For the first half, the turnover increased 44 per cent to Rs 78.05 crore (Rs 54.34 crore), , while net profit increased to Rs 5.44 crore (Rs 76 lakh).

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