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Madhucon Projects Ltd has achieved a net profit of Rs 19.29 crore for the fourth quarter ended March 31, 2011, registering a growth of 180 per cent over Rs 6.89 crore it logged for the corresponding quarter last year.
The turnover for the Hyderabad-based construction and infrastructure company was Rs 593.39 crore for the fourth quarter up 22 per cent over Rs 486.37 crore for corresponding quarter last year.
For the financial year ended March 31, 2011, the company logged revenues of Rs 1,704.55 crore, a growth of over 28.87 per cent, against last year's Rs 1,322.66 crore. The net profit for the full year ended March 31 was up 11.38 per cent at Rs. 50.98 crore against previous year's Rs 45.77 crore.
The company in a statement to the stock exchanges has informed that during the year ended March 31, 2011, it incurred higher interest rates burden of Rs 61.81 crore against Rs 25.12 crore in the previous financial year. This is mainly due to additional borrowings for expansion of business.
The company is currently having a portfolio of seven toll road and annuity projects and now has an order book of Rs 6,200 crore. It has prequalified for EPC works over Rs 20,000 crore.
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