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Madhucon Projects Limited posted a lower profit of Rs 4.5 crore for the fourth quarter as against a profit of Rs 5.74 crore for the corresponding quarter last year on a standalone basis.
The infrastructure company logged in lower income of Rs 226.20 for the fourth quarter as against Rs 268.74 crore for the same period previous fiscal.
For the financial year ended March 31, 2017 the company posted a profit of Rs 15.65 crore and income of Rs 710.35 crore as against a profit of Rs 22.36 crore and income of Rs 738.65 crore for the previous financial year.
On a consolidated basis, the company posted a loss of Rs 644.16 crore and income of Rs 1601.80 crore as against a profit of Rs 24.67 crore and income of Rs 2700.64 crore for the previous financial year on a consolidated basis.
The company, which has several road projects under its portfolio, has taken to arbitration in resolving issues relating to some of them.
The company now has an order book of Rs 5851 crore, which includes new orders of Maharashtra road projects of Rs 1137 crore and Bangalore Road works package 2 of Rs 598 crore. The company said it expects new orders worth Rs 10,000 crore during 2017-18.
The company stated that it is now fully focussing on EPC projects and item rate project works rather than BOT mode projects.
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