Construction firm Capacit'e Infraprojects Ltd has posted a 49 per cent rise in consolidated net profit at Rs 22.85 crore for the December quarter, mainly due to higher income.
The company had clocked a net profit of Rs 15.30 crore in the October-December period of the preceding 2021-22 fiscal, Capacit'e said in a regulatory filing.
Its total income also rose to Rs 445.98 crore from Rs 374.63 crore in the year-ago quarter, about 20 per cent higher.
In a separate statement, Rohit Katyal, Executive Director and CFO, said, "Our progress reflects our resilience amid a challenging macro-economic environment. Our robust execution capabilities coupled with strong repository of asset base enabling efficient execution reflected in strong revenue growth. With a healthy order book, we are optimistic that we shall witness a healthy and sustainable growth."
On his outlook for the construction industry, he said the government's strong impetus for the housing sector in the Union Budget and favourable policies are very positive for the sector and overall economy. Project awarding has seen an uptick and is likely to gain further momentum in the coming quarters.
The order book of the company on a standalone basis stood at Rs 9,764 crore as of December 31, 2022. Gross debt was at Rs 387 crore.
Capacit'e Infraprojects Limited provides end-to-end services for residential, commercial, and institutional projects.
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