Madhucon Projects Ltd posted a lower net profit of Rs 2.31 crore for the third quarter ended December 31 against a profit of Rs 7.53 crore for the corresponding quarter last year.
The Hyderabad-based construction and infrastructure company also saw a steep decline in total income at Rs 229.38 crore (Rs 624.87 crore).
For the nine-months ended December 31,, the company posted a net profit of Rs 14.28 crore on a total income of Rs 884.34 crore as against a profit of Rs 21.55 crore and revenues of Rs 1,370.14 crore for the corresponding period of the previous fiscal.
The company is implementing a power project at Simhapuri near Nellore. It expects to commission another 300 MW capacity by the end of May. It is also in the process of implementing 1,320 MW thermal plant at the same location as a part of its Phase-II expansion. The company has nine road projects with an outlay of Rs 9,000 crore under its portfolio. Four of them have been commissioned.
On Thursday, the company shares ended at Rs 29.55 on the BSE, down 5.29 per cent.