 "IRB Infra surges 7% on strong Q1 results")
IRB Infrastructure has surged 7% to Rs 255 on National Stock Exchange after reporting 12% year-on-year (yoy) growth in consolidated net profit at Rs 150 crore for the quarter ended June 30 2014 (Q4), driven by strong operational performance. The infrastructure development and construction company had profit of Rs 135 crore in the same quarter last fiscal.
Income from operations however fell 2% to Rs 1,010 crore from Rs 1,033 crore in a year ago quarter.
EBITDA or operating profit increased by 22% yoy at Rs 589 crore and margins improved to 56.8% from 45.6% during the recently concluded quarter.
The company said it has an order book of Rs 11,350 crore, out of which orders worth Rs 9,400 crore are to be executed in the next three to four years.
The construction order book gives IRB good visibility for the next three years, it added.
Meanwhile, the board has declared an interim dividend of Rs 2 per equity share of face value of Rs 10 each, for the financial year 2014-15.
The stock opened at Rs 248 and has seen a combined 3.55 million shares changing hands on the counter in early morning deals on NSE and BSE.
Income from operations however fell 2% to Rs 1,010 crore from Rs 1,033 crore in a year ago quarter.
EBITDA or operating profit increased by 22% yoy at Rs 589 crore and margins improved to 56.8% from 45.6% during the recently concluded quarter.
The company said it has an order book of Rs 11,350 crore, out of which orders worth Rs 9,400 crore are to be executed in the next three to four years.
The construction order book gives IRB good visibility for the next three years, it added.
Meanwhile, the board has declared an interim dividend of Rs 2 per equity share of face value of Rs 10 each, for the financial year 2014-15.
The stock opened at Rs 248 and has seen a combined 3.55 million shares changing hands on the counter in early morning deals on NSE and BSE.
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