Maytas Infra earns Rs 323 Mn profit

Wednesday, 30 January 2008, 08:00 Hrs
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Hyderabad: Hyderabad based Maytas Infra, an infrastructure development company, on Wednesday announced net profit of 323.6 million ($8.22 million) during the third quarter ended Dec 2007.

The company, which was listed on Bombay Stork Exchange and National Stock Exchange in October last year, achieved a turnover of 5.27 billion and has reported an earnings before interest, taxes, depreciation and amortization (EBITDA) of 788.8 million.

Its earning per share (EPS) was 5.50. The number of employees during the quarter increased to 2,130.

The company's order book stood at 52.73 billion on Dec 31.

For the first nine months of the current financial year, the company reported a turnover of 10.70 billion with an EBITDA of 1.54 billion, net profit of 633.4 million and EPS of 10.76.

"The results for the quarter are in line with our projections for the year. At Maytas we are focused on strengthening our systems and processes, and use technology to create an efficient and robust organisation," said P.K. Madhav, CEO, Maytas Infra.

He said the company would be diversifying into new areas including mining and related activities, manufacture of construction material and advisory and consultancy services.

The infrastructure development company is one of the leading infrastructure development, construction and project management companies in India with more than two decades of experience in executing projects.

Maytas bagged the fastest growing construction company in India award in the medium category in 2007 by Construction World and National Institute of Construction Management and Research (NICMAR).
Source: IANS
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