STL posts net profit of Rs 15.14 cr in Q1

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Hyderabad, July 29 (UNI) Sujana Towers Limited (STL), part of well-diversified Rs 3,000 crore Sujana Group of Companies, today announced that it has earned Rs 15.14 crore as net profit for the quarter ended on June 30, 2008.

For the first quarter the company has posted net sales of Rs 164.55 crore while its basic earnings per share was Rs 3.66.

''The company operates in the niche sector and we are happy with our performance. We are hopeful that the company will continue to show spectacular results in the quarters to come,'' Sujana Group of Companies Group Director V S R Murthy said in a press release here.

The results of the corresponding quarter/half year of the previous period is not given, as the company emerged by way of demerger pursuant to the scheme of arrangement and amalgamation as approved by High Court on April 10, 2007, which came into effect from May 4, 2007.

The company posted an impressive 40.52 per cent rise in the net sales at Rs 617.53 crore for the first quarter as compared to Rs 439.45 crores in the last fiscal.

The company's profit rose by 31.12 per cent to Rs 51.57 crore for the first quarter as compared to Rs 39.33 crore for the year ended on June 30, 2007.

The basic earnings per share stood at Rs 11.60 for the first quarter while it was Rs 10.10 in the previous fiscal.


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