veer energy & infra ltd (JHI) Snapshot

Veer Energy & Infrastructure Ltd. reported audited standalone earnings results for the fourth quarter and full year ended March 31, 2013. For the quarter, net sales /income from operations was INR 278.44 million compared to INR 365.52 million a year ago. Profit from operations before other income finance cost and exceptional items was INR 12.15 million compared to INR 31.82 million a year ago. Profit from ordinary activities before tax was INR 7.97 million against INR 32.19 million a year ago. Net profit was INR 4.97 million or INR 0.07 per basic and diluted share before and after extraordinary items compared to net profit of INR 24.99 million or INR 0.35 per basic and diluted share before and after extraordinary items a year ago. For the full year, net sales /income from operations was INR 784.23 million compared to INR 711.61 million a year ago. Profit from operations before other income finance cost and exceptional items was INR 74.37 million compared to INR 71.64 million a year ago. Profit from ordinary activities before tax was INR 72.50 million against INR 72.08 million a year ago. Net profit was INR 57.99 million or INR 0.82 per basic and diluted share before and after extraordinary items compared to net profit of INR 42.23 million or INR 0.59 per basic and diluted share before and after extraordinary items a year ago.

Veer Energy & Infrastructure Ltd. announced that the Board of Directors of the company at its meeting held on May 29, 2013, have decided the following; the Board approved the appointment of Mr. Nilay P. Shah as an Executive Director and Mr. Chetan H. Mehta & Mr. Mitesh J. Kuwadia as an independent Director. The Board also approved the Resignation of Mr. Bhavin Shah And Dr. Dhamendra B. Shah and Mr. Arvind M. Shah from the post of Directorships.

Veer Energy & Infrastructure Ltd announced that they will report Q4, 2013 results on May 29, 2013