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ICSA India FY 08 net up by 115 per cent

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CIOL Bureau
New Update

HYDERABAD, INDIA: ICSA (India) Limited has posted a net profit of Rs 126.5 crore for the year ended March 31, 2008 as compared to Rs 58.92 crore registered the previous financial year, showing an increase of 114.71 per cent.

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Total Income increased to Rs 677.05 crore, a growth of 103.17 per cent over the year ended March 31, 2008.

The company posted a net profit of Rs 37.46 crore for the quarter ended March 31, 2008 as compared to Rs 18.31 crore for Q4 in the last fiscal, a jump of 104.56 per cent.

Total income increased by 109.83 per cent when compared with corresponding quarter of the previous year, from Rs 101.05 crore for the quarter ended March 31, 2007 to Rs 212.03 crore for the quarter ended March 31, 2008.

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In February, ICSA secured contracts worth Rs. 43.97 crore from Northern Power Distribution Company of AP Limited and Transmission Corporation of Andhra Pradesh.

In April 2008, the Government of Singapore along with its sub-accounts picked up equity stake in ICSA aggregating to 2211246 shares (5.02 per cent).

“The results are in line with our target for the future growth. We hope to maintain the same rate going forward,” said Bala Reddy, chairman and managing director, ICSA (India) Limited.

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