Lanco Infratech, a part of Hyderabad-based Lanco Group, has reported a decline of 47% in its net profit at Rs 89.86 crore in the March quarter of 2009.

The company had posted a net profit of Rs 168.78 crore in the quarter ended March 2008.

However, the total income of the company surged to Rs 2,056.12 crore in the quarter ended March 2009, from Rs 1,318.16 crore in the same period previous fiscal.

For the year ended March 31, 2009, the company posted a net profit of Rs 280.35 crore, down 21%, against Rs 354.17 crore in the same period previous fiscal.

Deepak Mohoni, a well-know technical analyst, is of the view that Lanco Infratech is primarily good for short-term trading.

He said during a recommendation call that the good time to enter the scrip for long-term is only when there has been a significant correction.

The stock ended on Friday at Rs 369, up 4%, compared to previous close of Rs 353. The counter has made 52-week-high and low of Rs 520 and Rs 83 respectively.