Construction company Madhucon Projects Ltd reported a 43.7 per cent drop in net profit for the quarter ended September 30, from Rs 11.96 crore to Rs 6.73 crore. This was despite a 38 per cent rise in the company’s income from operations, which stood at Rs 351.64 crore, compared with Rs 254.72 crore in the same period of 2009-10. Expenditure on construction materials jumped 149 per cent to Rs 251.71 crore (Rs 101.05 crore) and accounted for 71.5 per cent of the revenue, a company release said.
Granules India net down 41.55%
Granules India, a formulation manufacturer, reported a net profit at Rs4.5 crore for the quarter ended September 30, down 41.55 per cent as compared with Rs7.7 crore during the same time last year. Net sales during the quarter increased 2.96 per cent to Rs117.9 crore from Rs114.5 crore. “We are continuing to diversify revenue from a division and product standpoint,” said C Krishna Prasad, managing director of Granules. The company commercialised several finished dosage contracts this year and the division contributed about 20 per cent to the revenues.
Gati net up 65%
Logistics company Gati reported a 65.19 per cent increase in its net profit to Rs3.75 crore for the quarter ended September 30 as compared with Rs2.27 crore during the corresponding period last year. Revenue were at Rs 226.25 crore, up 31.22 per cent. Company founder and chief executive officer Mahendra Agarwal said auto, telecom, consumer electronics and consumer durables sectors would drive the supply chain solutions segment of the company. It would also focus on distribution business.