City-based infrastructure development company Madhucon Projects on Wednesday announced a net profit of Rs.22.45 crore and turnover of Rs.654.96 crore for the half-year ended September 30, marking a decrease from the corresponding period in the last financial year.

A company release said a subsidiary, Madhucon Infra had a road, power and coalmine vertical and that there were nine road projects in the portfolio at an estimated Rs.7,000 crore.

Of this four, toll road projects were commissioned and toll revenues being collected, it is said, while financial closure was done with regard to three annuity road projects and project construction already under way.