Man Infraconstruction Q4 Profit Jumps 2-Fold to Rs 66 Cr
May 14, 2024 20:45
Man Infraconstruction's net profit surged over 100% in Q4 FY24, reaching Rs 66.53 crore, driven by lower expenses. The company's revenue, however, declined.
New Delhi, May 14 (PTI) Man Infraconstruction Ltd on Tuesday posted over twofold rise in its standalone net profit to Rs 66.53 crore for the March quarter on lower expenses.
It had posted a net profit of Rs 29.81 crore during the fourth quarter of last fiscal, the company said in an exchange filing.
However, the company's total income fell to Rs 186.22 crore from Rs 370.47 crore in the January-March period of FY23.
Man Infraconstruction trimmed its expenses to Rs 114.90 crore from Rs 332.17 crore a year ago.
The company brought down its cost of materials to Rs 57.35 crore from Rs 265.93 crore in the fourth quarter of FY23.
EPC firm Man Infraconstruction is into verticals like ports, infrastructure, commercial projects, institutions, IT projects and futuristic lifestyle houses.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.