Four-fold profit rise for Noida Toll Bridge

CORPORATE SCORECARD

Buoyed by the annual revision in toll rates, highway developer and operator Noida Toll Bridge Company (NTBCL) today reported over four-fold rise in net profit at Rs 11.06 crore for 2006-07 against Rs 2.60 crore for the year-ago period.

Income from operations stood at Rs 47.11 crore, over 20 per cent from the previous year's figure of Rs 39.07 crore, a company statement said.

In the same period, NTBCL recorded an increase of over 13 per cent in the average daily traffic (ADT) to 68,648 vehicles, compared with 60,840 vehicles last year, it added.

Operatng profit margin of the company showed a 75 per cent rise against 65 per cent last year.

"The growth in income has outpaced the growth in traffic due to the annual revision in toll rates as well as an increase in other operational income," the company said.

The NTBCL is the first Indian public listed company to have issued securities on the London Stock Exchange.

The company is currently implementing the Mayur Vihar Road Project that is likely to be completed in the second quarter of 2007-08, it said.

However, the company has not declared any dividends. "The directors intend to recommend the commencement of payment of dividends when the profitability of the company is established," NTBCL said.

The directors intend to put in place an appropriate dividend policy during this year, it added.