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Our Bureau

Hyderabad, Feb. 1

Madhucon Projects Ltd has posted 32.7 per cent increase in net profit at Rs 12.98 crore in the third quarter ended December 31, 2007, against Rs 9.98 crore in the corresponding period of last fiscal year.

The turnover of the Hyderabad-based company increased 67 per cent at Rs 201.17 crore (Rs 120.50 crore). The earnings per share stood at Rs 14.07 (Rs 10.60). The value of current projects on hand was Rs 3,800 crore, according to a release.

During the quarter, a 270-MW thermal power plant being set up by the company had achieved financial closure and the various approvals were in the advanced stage. The construction of the project would commence shortly.

The first coal mining project of 3,188 hectares in Indonesia received all clearances and the construction of jetty would also begin soon.

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