Vidullanka PLC recorded a profit of Rs 84.5 million for the six month period ended 30th September 2009, up 42.6% from the same period last year.
Increase in revenue coupled with reduction in the finance costs has resulted in the increase of profits. The company, said in statement, that it’s confident of recording its highest ever profits by performing better in the second half of the year. Vidul Construction Ltd, a fully owned subsidiary of Vidullanka PLC, is currently engaged in construction of 1.2MW mini hydro power project which is a joint venture with Hirdaramani Ltd. The project will be commissioned in February 2010.
The statement said Vidullanka PLC will also have a significant equity interest in a 2MW project located in Morawaka. Construction of the project is expected to commence in December. Vidul Construction Ltd has been awarded the contract to carry out the construction. |
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