IL&FS Engineering up 20% on impressive December quarter performance

IL&FS Engineering has hit the upper circuit filter of 20% in morning deals, a day after the company reported a turnaround performance for the recently concluded quarter. Net profit in the December quarter came in at Rs 76.5 crore as against a loss of around Rs 58 crore in the previous corresponding period.

Total income during the period under review surged nearly 46% to Rs 679.6 crore versus Rs 466.3 core year-on-year, while the other income stood at Rs 52.6 crore versus Rs15.6 crore (y-o-y), the company release showed.

The stock opened at Rs 68 on the Bombay Stock Exchange (BSE) and moved up 20% in early deals to Rs 71.45. Around 78,000 shares had been traded on the BSE till 940am.