Gammon India's June quarter net PAT down by 20%

Gammon-IndiaIndia's leading infrastructure firm Gammon has announced its financial results for first quarter of the fiscal year 2010-11. The company has informed that, there has been a decline in its net profit-after0tax in this reviewed quarter as compared to last year report.

The net profit of the firm was reported to be Rs 46 crore for the first quarter of the current year of 2010-11. For the same period of time, the net profit was Rs 56 crore in the previous year of 2009-10.

The company has said that there were tax provisions of Rs 17 crore in this year which has affected the net figure. Extra tax provisions in the reviewed quarter have pulled the net figure down. There has been a decline of 20% in the net profit-after-tax in the June quarter this year against the corresponding quarter last year.  

Gammon India has produced this fact to the Bombay Stock Exchange in a filing. However, CMD of Gammon India Mr. Abhijit Rajan has informed that he is very much pleased to see the positive signs of the emergence of the national economic front.