IRB Infra spurts after Q2 results on good order book visibility

IRB Infrastructure Developers surged 6.74% to Rs 88.65 at 14:39 IST on BSE after the company at the time of announcement of Q2 September 2013 results today, 14 November 2013 said that it has good order book visibility for the next two to three years

The Q2 result was announced during trading hours today, 14 November 2013.

Meanwhile, the S&P BSE Sensex was up 194.18 points or 0.96% at 20,388.58.

On BSE, 10.16 lakh shares were traded in the counter as against average daily volume of 5.21 lakh shares in the past one quarter.

The stock hit a high of Rs 90.70 and a low of Rs 84.25 so far during the day. The stock had hit a 52-week high of Rs 146.95 on 10 December 2012. The stock had hit a record low of Rs 51.90 on 2 August 2013.

The stock outperformed the market over the past one month till 13 November 2013, surging 6% compared with the Sensex's 1.63% fall. The scrip had also outperformed the market in past one quarter, jumping 13.38% as against Sensex's 5.02% rise.

The small-cap company has equity capital of Rs 332.36 crore. Face value per share is Rs 10.

IRB Infrastructure Developers' consolidated profit after tax declined 12% to Rs 107 crore on 10% growth in total income to Rs 967 crore in Q2 September 2013 over Q2 September 2012. EBITDA (earnings before interest, taxation, depreciation and amortization) rose 9% to Rs 450 crore in Q2 September 2013 over Q2 September 2012.

The company's order book now stands at approximately Rs 7030 crore out of which Rs 5050 crore worth of order book is to be executed in the next two to three years. This order book gives IRB good visibility for the next two to three years, the company said in a statement.

IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.

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