Sujana Towers today posted a consolidated net profit of Rs 21.16 crore for the three months ended June 2011, an increase of nearly 17% as compared to the year-ago period.

Sujana Towers has soared 9% at Rs 35.30 after reporting a three-fold year-on-year jump in net profit at Rs 14.37 crore for the quarter ended March 2011. The company had reported a net profit of Rs 4.71 crore in the year-ago period.

Sujana Towers Ltd has decided to convert 8 million convertible warrants into an equal number of equity shares of Rs 5 each at a premium of Rs 50 per share.

Sujana Towers is trading 4% higher at Rs 69.80 after the company announced that it was recently awarded three orders for the supply of about 16700 MT of 400 KV transmission line towers, valued at Rs 148.38 crores, by SPIC SMO and SEW Infrastructure Ltd.

Tide Water Oil (India) is trading 3% lower at Rs 9,315 on reports that the Union government will not sell its 26.22% stake in the lubricant maker. The government holds its stake through Andrew Yule and Co. Ltd.

Sujana Towers is trading up 11% at Rs 56 after posting an 87% jump in net profit to Rs 10 crore for the quarter ended March 2010, as against Rs 5 crore in same quarter of previous year.

Sujana Towers, a company of the Rs 3,000crore Sujana Group, is diversifying into designing customised products like boiler plates, piping and other components for specialty projects across the sectors, said group director VSR Murthy.