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Our Bureau

New Delhi, July 21

Noida Toll Bridge Company Ltd Has reported a net profit of Rs 1.66 crore for the quarter ended June 30, 2006 against a net loss of Rs 3.66 crore for the corresponding quarter the previous year.

The turnaround has been possible on account of steady increase in revenue as well as reduction in operation and maintenance (O&M) expenses and finance charges, said a company release.

The company added that it has renegotiated the O&M agreement with Intertoll India Consultants with effect from January 2006, which has resulted in saving in O&M expenses by 23 per cent.

The average daily traffic in the first quarter of 2006-07 fiscal was approximately 63,100 vehicles, reflecting an 11 per cent increase over the corresponding period the previous year, it added.

Though the company has provided for depreciation as per the Companies Act for the quarter ending June 2006, it has requested the Department of Company Affairs (DCA) for an extension of the waiver until the depreciation policy for infrastructure projects is finalised by the Government.

The company had received a waiver from charging depreciation from the DCA for a period of three years, which ended in 2005-06.

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