New Delhi, Feb 13 (PTI) Kalpataru Power Transmission Ltd on Saturday posted more than two-fold jump in consolidated net profit to Rs 308 crore for the December quarter compared to the year-ago period mainly on the back of higher revenues.

The consolidated net profit of the company was Rs 133 crore in the quarter ended on December 31, 2019, a BSE filing said.

Total income of the company rose to Rs 3,520 crore in the quarter from Rs 3,172 crore in the same period a year ago.

The board also declared interim dividend at the rate of Rs 8.5 (i.e. 425%) per equity share of face value of Rs 2 each fully paid up for the financial year 2020-21.

The company has already fixed Saturday, 20th February, 2021 as record date for the aforesaid purpose. The dividend so declared on equity shares, shall be paid on or before 12th March, 2021.

Further, it said that in reference to our letter dated 10th December, 2020, intimating about keeping in abeyance the proposal of Capital Expenditure for Construction of Corporate Office of the Company, the Board of Directors today (on Saturday) decided to withdraw the said proposal.

About the impact of pandemic, it said, "The company has considered the possible effects that may result from COVID-19 in the preparation of the financial results including the recoverability of carrying amounts of assets.

"In developing the assumptions relating to the possible future uncertainties In the global economic conditions because of COVID-19, the management has, at the dale of approval of these financial results expects that the carrying amount of these assets will be recovered."

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