VA TECH reports 19.7 per cent jump in Q4 net profit

PTI Posted online: Sunday, May 25, 2014 at 0000 hrs
Chennai : Water treatment company VA TECH WABAG has reported 19.7 per cent rise net profit for the fourth quarter ending March 31, 2014, at Rs 71.90 crore.

The Chennai-based company had posted a net profit of Rs 60.03 crore during the corresponding period of previous year.

Total income from operations soared to Rs 897.66 crore during the quarter from Rs 685.41 crore during the same period a year ago.

For the financial year ending March 31, 2014, net profit grew by 26.8 per cent to Rs 113.62 crore, from Rs 89.60 crore during the previous year, it said.

Total income from operations during the period grew to Rs 2,238.60 crore from Rs 1,617.27 crore in the previous year, the company said in a statement.

"We sustained growth on all fronts in a challenging business environment ... the company achieved many milestones such as highest-ever order in take, achieved landmark of Rs 2,000 crore in revenue and Rs 100 crore in net profit," VA TECH WABAG Managing Director Rajiv Mittal said.

" ... with order book of more than Rs 5,350 crore (as of March 2014), we are well placed to achieve higher milestones going forward", he said.

The company also bagged orders from newer geographies like Tanzania and Nepal, the statement added.