Noida Toll Bridge Q1 profit up 11 pc to Rs 22.6 cr

Noida Toll Bridge Company Ltd, which operates the DND flyover between Delhi and Noida, today reported 11.20 per cent increase in net profit to Rs 22.63 crore for the April-June quarter of 2015-16.
The company had posted a net profit of Rs 20.35 crore in the first quarter of 2014-15.
Its total revenues during the quarter under review increased to Rs 32.26 crore from Rs 29.64 crore in the corresponding quarter of previous fiscal.
Total expenditure almost doubled to Rs 16.14 crore during the first quarter from Rs 8.15 crore in a year-ago period.
Last month, the board of Noida Toll Bridge Company decided to seek shareholders' approval for collecting toll from the users of the project till March 2031, an indication that the firm might take longer than expected to recover costs related to the project.

The concession agreement governing the Noida Toll Bridge project was executed on November 12, 1997, between New Okhla Industrial Development Authority (NOIDA), Infrastructure Leasing & Financial Services, and the company.
Shares of the company closed at Rs 26.10 apiece on the BSE, up 3.57 per cent from previous close.