The Hindu Business Line : Madhucon Projects Q4 net dips 20%

Hyderabad May 1 Madhucon Projects Ltd's net profit dipped by over 20 per cent to Rs 11.55 crore in the fourth quarter of the fiscal ended March 31, compared to Rs 15.29 crore in the corresponding previous period due to increase in provision for taxation.

However, turnover during the quarter increased 54 per cent to Rs 183.13 crore (Rs 118.94 crore).

For the full year, net profit rose 25.3 per cent to Rs 41.7 crore (Rs 33.26 crore), while turnover grew 49 per cent to Rs 510 crore (Rs 342 crore), a release said.

The company's order book stood at Rs 5,000 crore as on March 31.

It has bagged four National Highway Authority of India (NHAI) projects valued at over Rs 2,000 crore; they are build-operate-transfer (BOT) toll-based covering 330 km.

The financial closure of these projects is over and the works have already commenced. Currently, the firm is executing various projects in Andhra Pradesh, Tamil Nadu, Maharashtra, Madhya Pradesh, Rajasthan, Bihar and Assam.

In 2006-07, Madhucon added new capital assets in the form of automated crushers, computerised hot-mix plants, pavers, excavators and others to the extent of Rs 82.8 crore, with the gross block amounting to Rs 271.71 crore, marking an increase of 43 per cent.

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