Infrastructure development company MARG today reported a jump of 96.5 per cent in its net profit at Rs 80.37 crore for the year ended March 31, 2010.
The city-headquartered company had clocked a net profit of Rs 40.9 crore in the previous fiscal, a statement issued by the company here said.
For the fourth quarter of 2009-10, the net profit of the firm grew by 122.72 per cent to Rs 28.62 crore from Rs 12.85 crore in the same period of last year.
The company's net sales also grew by 61 per cent for the year ended March 31, 2010 compared to previous year.
The net sales of the company for the year ended March 31, 2010, stood at Rs 745.38 crore against Rs 462.99 crore in the same period of the last fiscal.
"Our results for the year under review are very encouraging. Despite the challenging business environment, our net profit after tax has increased by a healthy 96.5 per cent. The first phase of the Karaikal Port got operational in April 2009 and we have already handled more than 170 vessels. Our EPC order book is healthy with projects worth over Rs 3,000 crore in pipeline," MARG's Chairman and Managing Director GRK Reddy said.
Engaged in marine infrastructure, affordable housing and EPC (Engineering, Procurement and Construction) business, the company has operations in China and Singapore. It has completed projects in Tamil Nadu, Puducherry, Andhra Pradesh and Karnataka.