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Marg to rejig business, Q1 net profit at Rs.11.34 crore

Chennai, Aug 13 (IANS) Diversified infrastructure company Marg Ltd has decided to restructure its business under related verticals for operational smoothnes, a top company official said Friday.

‘We have decided to restructure the business to have operational smoothness and increased productivity. We are talking with major consultancy organisations for this purpose,’ Chairman and Managing Director G.R.K. Reddy told reporters here.

According to him, the Rs.745 crore revenue company will take into account the growth areas in all the existing business verticals- air/sea port, industrial and urban infrastructure.

The company closed the first quarter of the current fiscal with revenue of Rs.174.8 crore and a net profit of Rs.11.34 crore as against Rs.122.7 crore and Rs.11.1 crore respectively earned during the corresponding period of the previous year.

Speaking about operations of Karaikal Port, he said the port handled over 1.2 million tonnes of cargo.

He said the port will be expanded by adding two more berths by September next year.

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