Ramky Infrastructure today posted 19 per cent fall in profit after tax at Rs 35.65 crore for the quarter ended September 30, mainly due to higher finance costs and delayed receivables.
The city-based integrated construction and infrastructure development company had reported net profit of Rs 44.20 crore during the same period last fiscal.
The drop in PAT was due to higher finance costs and delayed receivables, Ramky Infrastructure Managing Director Y R Nagaraja said in a statement.
The company incurred finance cost of Rs 69 crore in the reporting quarter against Rs 51.6 crore during Q2 last fiscal.
Consolidated Revenues was marginally down by 3.6 per cent to Rs 750.90 crore compared to Rs 778.6 crore in Q2 FY12, Ramky said in the statement.
"The external environment for infrastructure is still not encouraging with high interest rates and delayed receivables.
However, the company has managed to perform well and expects to continue the same," Nagaraja said in the statement.
Consolidated revenues for the first six months of the current fiscal stood at Rs 1,632.87 crore as compared to Rs 1551.58 crore of H1 FY12 and Consolidated PAT for the half year stood at Rs 86.63 crore as compared to Rs 89.04 crore of H1 FY12.
Ramky's shares closed at Rs 105.45 on the BSE today, up 0.29 per cent over previous close.