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MEP Infra gains on commencing tolling operations in Odisha

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MEP Infrastructure Developers rose 1.24% to Rs 16.35 after the company said it commenced tolling operations at Sergarh Fee Plaza in Odisha from 6 April 2021.

The National Highways Authority of India (NHAI) has engaged MEP Infrastructure Developers as the contractor for the collection of user fee through e-tender for Sergarh Fee Plaza of NH-5 in the state of Odisha. The period of the said contract is one year till 6 April 2022. The contractual amount for the said project is Rs 62.73 crore payable to NHAI.

On a consolidated basis, MEP Infrastructure Developers reported a net profit of Rs 82.10 crore in Q3 FY21 as compared to a net loss of Rs 71.87 crore in Q3 FY20. Net sales dropped 41.2% to Rs 282.43 crore in Q3 FY21 over Q3 FY20.

MEP Infrastructure Developers operates network of roads, highways, bridges and toll plazas.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, April 06 2021. 15:23 IST