Madhucon net slips 38%

Net income of the company stands at Rs 160.62 cr vs Rs 432.32 crore, down 62.84%

Hyderabad-based infrastructure development company, Madhucon Projects Limited, reported a 37.85 per cent decline in net profit to Rs 9.29 crore for the fourth quarter ended March 2013, as compared with Rs 14.95 crore in the corresponding quarter of the previous year. Net income stood at Rs 160.62 crore during the quarter under review, as against Rs 432.32 crore, down 62.84 per cent.

For the full year ended March 2013, the company achieved a net profit of Rs 33.76 crore, as against Rs 34.76 crore, a decline of 2.87 per cent, while  net income fell 42 per cent to Rs 1,044.97 crore from Rs 1,803.15 crore in the previous year.

It has nine projects under its road portfolio costing Rs 7,000 crore, of which four toll road projects have been commissioned and toll revenues were being collected, a release said.