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IRB Infrastructure Developers has reported a decline of 27.49 per cent in its consolidated net profit at Rs 102.76 crore for the quarter ended March 31, 2011 compared with Rs 141.73 crore during the corresponding quarter of 2009-10.
In a regulatory filing, the company attributed the decline in profit to accounting of MAT (minimum alternative tax) credit for the entire year during the January-March quarter.
Income from operations, however, rose 52.86 per cent to Rs 766.97 crore during the quarter from Rs 501.74 crore during January-March quarter of FY10, the filing added.
For the full year 2010-11, the net profit was up 17.37 per cent at Rs 452.38 crore vis-a-vis a net profit of Rs 385.40 crore it had reported in 2009-10, the filing added.
During the year, the company’s income from operations rose by over 43 per cent to Rs 2,438.11 crore, the filing said.
The company, which is engaged in road infrastructure development, also said that it currently has 10 operational projects under build-operate-transfer (BOT) mode.
Meanwhile, the company shares today closed at Rs 156.30 on the Bombay Stock Exchange, down 1.98 per cent from the previous close.
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