Online BusinessMadhucon Projects Q2 net dips 7%
Madhucon Projects, a city-based infrastructure development company, reported a net profit of Rs 11.96 crore for the second quarter ended September 30, 2009, as against Rs 12.81 crore in the corresponding quarter last year, registering a decline of 6.63 per cent. Turnover, however, grew 63 per cent to Rs 254.72 crore during the quarter, as compared with Rs 156.25 crore in the same period a year ago.
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Madhucon’s own mine at south Sumatra in Indonesia to the extent of 10,000 hectare is expected to commence production from this quarter. The 4,000-hectare second mine in east Kaliamantan, also in the name of PT Madhucon Indonesia, will be obtaining all the approvals in the next six months, the company stated in a press release on Friday.
The scrip of Madhucon settled at Rs 228.35 on the BSE, down 1.3 per cent as against the previous close of Rs 231.35.