From correspondents in Delhi, India, 07:38 PM IST
ICSA (India) Ltd, the fastest growing company in the power sector, posted a PAT of Rs 40.97 Crores for Q 1 FY 09, a hop of 71.28% as compared to Rs 23.92 Crores for the same quarter last year. Total Income increased by 96.79%, from Rs. 122.98 Crores QoQ to Rs 242.01 Crores. Basic EPS stands at Rs.9.31 per share of Rs.2/- each.
The PAT of the Company rose 9.36% to Rs.40.97 Crores, as compared to Rs. 37.46 Crores for the previous quarter ended March 31, 2008. Total Income increased by 14.14%, from Rs.212.03 Crores for the final quarter of the 2008 fiscal to Rs.242.01Crores for the Quarter ended June 30, 2008. Basic EPS stands at Rs.9.31 per share of Rs.2/- each as compared to Rs.8.58 per share of Rs.2/- each for the Quarter ended March 31, 2008.
In June, ICSA was awarded a 20 MW Wind power project by Non-Conventional Energy Development Corporation of Andhra Pradesh Ltd. Recently, ICSA secured orders aggregating to Rs. 225.79 crores for supply and erection of Substations and for provision of Rural Electricity infrastructure from various state electricity boards. Deutsche Securities Mauritius Ltd. and the Government of Singapore have increased their equity stake in ICSA.
Commenting upon the results, Mr. Bala Reddy, Chairman and Managing Director, ICSA (India) Limited, said, “The results are in line with our target for future growth. The number of orders bagged illustrates our pan-Indian capabilities and the fact that the technology solutions we have developed for the power sector are gaining increasing acceptability.”
ICSA secured design nod for the Automatic Meter Reading Apparatus and Protector for oil and gas pipelines from the Patent Office. ICSA’s solutions for the power sector identify Transmission and Distribution (T&D) losses and monitor power consumption using GSM Network.
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