Anantraj industries reports strong performance

New Delhi, Jan 19 (ANI/Business Wire India): Anant Raj Industries Limited, one of the leading infrastructure companies in the country, has posted a strong financial performance for the quarter ended December 31, 2007.

The total income increased by 156.68 per cent to Rs. 18859 lacs from Rs. 7347.16 lacs reported in the corresponding quarter previous year.

The PBDIT in the present quarter increased 169.69 per cent to Rs. 17965.12 lacs from Rs. 6661.29 lacs reported in the corresponding quarter ended December 2006.

The net profit has increased by 186.55 per cent to Rs. 12126.46 lacs as against Rs. 4231.86 lacs reported in the corresponding quarter.

Whereas Profit Before Tax during the period has grown by 172.56 per cent to Rs. 17689.55 lacs from Rs. 6490.10 lacs reported in the corresponding quarter ended December 2006.

During the quarter, the High Courts of Delhi, Punjab and Haryana has approved the scheme of arrangement of 12 companies with the company.

The company, pursuant to scheme of arrangement, on December 24, 2007, has allotted 3,31,73,830 shares of Rs. 2 each to the shareholders of transferor companies.

The process of amalgamation of group companies carrying on the similar business with the company, which was initiated during the year 2005, is now complete. The financial results include the impact of above said amalgamation.

The company has also been allotted 25 acres of land in Greater Noida for development of IT Park and 25 acres of land at Jhaghadia Estate, Gujarat to setup a Ceramic Tiles Manufacturing Plant by the respective development authorities.

ANI