Noida Toll Bridge profit soars to Rs 11.06 cr
Noida Toll Bridge Company Ltd (NTBCL) on Tuesday reported an over four-fold rise in net profit to Rs 11.06 crore for 2006-07 fiscal against Rs 2.60 crore in the same period a year-ago.
By PTI |
NEW DELHI: Buoyed by the annual revision in toll rates, highway developer and operator Noida Toll Bridge Company Ltd (NTBCL) on Tuesday reported an over four-fold rise in net profit to Rs 11.06 crore for 2006-07 fiscal against Rs 2.60 crore in the same period a year-ago.
Income from operations stood at Rs 47.11 crore, more than 20 per cent higher than the previous year's figures of Rs 39.07 crore, a company statement said.
In the same period, NTBCL recorded an increase of over 13 per cent in the Average Daily Traffic (ADT) to 68,648 vehicles as compared to 60,840 vehicles last year, it added.
Operating profit margin of the company showed 75 per cent rise as against 65 per cent last fiscal.
"The growth in income has outpaced the growth in traffic due to annual revision in toll rates as well as an increase in other operational income," the company said.
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The NTBCL is the first Indian publically-listed company to have issued securities on the London Stock Exchange.The company is currently implementing the Mayur Vihar Road Project that is likely to be completed in the second quarter of fiscal 2007-08, it said. However, the company has not declared any dividends.
"The directors intend to recommend the commencement of payment of dividends when the profitability of the company is established," NTBCL said.
The directors intend to put in place an appropriate dividend policy during this year, it added.
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