VA Tech Wabag, a leader in water and waste water management, reported a sharp increase in its first half-year net profit at Rs. 19.93 crore (consolidated) against Rs. 2.75 crore during the same period in the previous year.
Total revenue registered a rise of 20 per cent to Rs. 571.90 crore from Rs. 475.70 crore. On a standalone basis, revenue stood at Rs. 312 crore, and the net profit at Rs. 22 crore in the first-half of the current financial year.
Rajiv Mittal, Managing Director, said in a statement that the international business made a significant contribution to the revenue growth and improved margins. The order backlog stood at Rs. 4,025 crore, giving good visibility for the next two years, he added.
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The trial run of the Nemmeli desalination project had started, and the plant was expected to be commissioned next month, Mr. Mittal stated in the release.
Unitech
Unitech has reported a 46 per cent drop in its consolidated net profit at Rs. 49.19 crore in the second quarter ended September 30, 2012, against Rs. 92.46 crore in the same period in the previous year.
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Net income witnessed a decline of 20.5 per cent to Rs. 539.83 crore from Rs 679.35 crore in the year-ago period.