Ashoka Buildcon gains after strong Q3 results

Ashoka Buildcon rose 4.56% to Rs 189 at 13:20 IST on BSE after consolidated net profit spurted 952% to Rs 13.50 crore on 34% growth in total income to Rs 614 crore in Q3 December 2015 over Q3 December 2014.

The result was announced after market hours on Friday, 22 January 2016.

Meanwhile, the S&P BSE Sensex was up 112.09 points or 0.46% at 24,547.75.

On BSE, so far 29,000 shares were traded in the counter as against average daily volume of 30,519 shares in the past one quarter. The stock hit a high of Rs 190.35 and a low of Rs 183.80 so far during the day. The stock had hit a record high of Rs 211.90 on 23 December 2015. The stock had hit a 52-week low of Rs 132.80 on 6 February 2015. The stock had underperformed the market over the past one month till 22 January 2016, sliding 9.76% compared with Sensex's 4.51% fall. The scrip had, however, outperformed the market in past one quarter, advancing 11.88% as against Sensex's 10.45% fall.

The mid-cap company has equity capital of Rs 93.57 crore. Face value per share is Rs 5.

Ashoka Buildcon's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 71% to Rs 186 crore in Q3 December 2015 over Q3 December 2014.

The company's current total engineering, procurement and construction (EPC) order backlog stood at Rs 4186 crore.

Ashoka Buildcon is a leading highway concessionaire and EPC company.

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