IRB Infrastructure Developers today reported a decline of 27.49% in its consolidated net profit at Rs 102.7 crore for the quarter ended March 31, 2011.
The company had posted a net profit of Rs 141.7 crore during the corresponding quarter of 2009-10.
In a regulatory filing, the company attributed the decline in profits to accounting of MAT (minimum alternative tax) credit for the entire year in January-March quarter.
Income from operations of the company, however, rose by 52.86% at Rs 766.9 crore during the quarter as compared to Rs 501.7 crore of January-March quarter of FY10, the filing added.
For the full year 2010-11, the net profit of the company was up 17.37% at Rs 452.3 crore vis-a-vis a net profit of Rs 385.4 crore it had reported in 2009-10, the filing added.
During the year, the company's income from operations rose by over 43% at Rs 2,438.1 crore, the filing said.
The company, which is engaged in road infrastructure development, also said that it currently has 10 operational projects under build-operate-transfer (BOT) mode.
Shares of the company today closed at Rs 156.30 on the Bombay Stock Exchange, down 1.98% from the previous close.
