Madhucon Projects Ltd has posted a lower net profit of Rs 4.95 crore for the second quarter ended September 30, 2012, as against Rs 6.04 crore for the corresponding quarter last year.
The revenue for the second quarter was also lower at Rs 318.80 crore as against Rs 416.04 crore for the corresponding quarter last year.
The Hyderabad-based infrastructure company posted revenues of Rs 654.95 crore for the first half this fiscal, down 12 per cent as against Rs 745.27 crore logged for the corresponding period last year. The net profit in the first half was also down at Rs 11.29 crore (Rs 14.01 crore).
The company has nine road projects with a portfolio of Rs 7,000 crore. Of this, seven projects have been commissioned and toll revenues are being collected. It has completed financial closure for three other annuity projects and they are under implementation. It is set to tie up funds for two other road projects.
It is currently operating 300 MW of thermal power capacity at the Simhapuri power project in Andhra Pradesh and expects to add 300 MW by March 2013, thereby taking its installed capacity to 600 MW.
The Madhucon-Hawk joint venture has received a work order from the Ethiopia Roadways Authority for execution of a road project in that country. The company is exploring opportunities to take up more road projects in Tanzania, Kenya and Bangladesh
The company is also in the process of tying up funds for a coal power project in Indonesia.