Era Infra Engineering reported a substantial rise in its standalone net profit for the second quarter ended September 2008. During the quarter, the profit of the company rose 44.30% to Rs 356.69 million from Rs 247.19 million in the same quarter, previous year.

Net sales for the quarter jumped 63.38% to Rs 4,189.63 million, while total income for the quarter jumped 60.57% to Rs 4,260.52 million, when compared with the prior year period.

The company reported earnings of Rs 3.09 a share during the quarter, registering 67.13% decline over previous year period.

During the quarter, interest cost increased 2.42 times to Rs 409.19 million while depreciation cost rose 98.04% to Rs 92.61 million over previous year period.

The company is engaged in diversified construction activities for airports, power projects, infrastructure, institutional and industrial complexes, multiplexes and residential buildings.

Shares of the company declined Rs 2.65, or 3.51%, to settle at Rs 73. The total volume of shares traded was 67,575 at the BSE (Wednesday).