Marg Ltd registers 96.5% increase in profit
Marg Ltd registered a 61% increase in net sales which stood at Rs. 745.38-cr in 2009 – 2010 as compared to Rs. 462.99-cr in 2008 -2009. The net profit for the year ended March 31, 2010 stood at Rs. 80.37-cr, a 96.5% increase from Rs. 40.9-cr for the year ended March 31, 2009.
Commenting on the company’s performance in the year ended March 31, 2010, GRK Reddy, Chairman & Managing Director, Marg Ltd said, "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%. The first phase of Karaikal Port got operational in April last year and we have already handled more than 170 vessels.
Our EPC order book is healthy with projects worth over Rs3000 crore in the pipeline; we have contracts from various government agencies, institutions and leading corporate groups."
For the quarter ended March 31, 2010, the income from operations stood at Rs. 201.25-cr via-a-vis Rs. 170.1-cr in the corresponding period in 2008 – 2009, an increase of 23.6%. The quarter ended March 31, 2010 saw an increase of 122.72% in the net profit, from Rs. 12.85-cr in the corresponding period last fiscal to Rs. 28.62-cr.
Marg Ltd: 2009-2010 Milestones
EPC order book over INR 3000 crores in the pipeline
March 2010: Karaikal Port signed an agreement with ‘India Infrastructure Fund’ of IDFC; under this the fund will invest INR 1,500 million in the port against equity stake
March 2010: Marg signs MoU with Virginia Tech to establish a university campus, ‘Virginia Tech Marg Swarnabhoomi, India’ at Marg Swarnabhoomi
January 2010: Marg Limited signs project development agreement with the Government of Karnataka for Bijapur Airport.
January 2010: First railway cargo flagged off from Karaikal Port
November 2009: Karaikal Port receives first Panamax vessel M. V. Merian carrying 56,863 MT of pet coke
September 2009: Launch of Marg Properties, the umbrella brand for all offerings in the living spaces / homes segment
April 2009: Karaikal Port Phase 1 completed ahead of schedule