Lanco Infratech gallops after turnaround in Q2

Lanco Infratech was locked at 20% upper circuit at Rs 6.39 at 11:13 IST on BSE after the company reported consolidated net profit of Rs 98.90 crore in Q2 September 2015 compared with net loss of Rs 508.80 crore in Q2 September 2014.

The result was announced after market hours yesterday, 23 November 2015.

Meanwhile, the S&P BSE Sensex was up 25.50 points or 0.1% at 25,844.84.

On BSE, so far 12.48 lakh shares were traded in the counter as against average daily volume of 12.62 lakh shares in the past one quarter.

The stock opened with an upward gap surging by the maximum permissible level of 20% and remained locked at 20% level at Rs 6.39 so far during the day. The stock had hit a 52-week high of Rs 7.24 on 28 February 2015. The stock had hit a record low of Rs 2.46 on 25 August 2015.

The stock had outperformed the market over the past one month till 23 November 2015, surging 9.45% compared with Sensex's 6.01% fall. The scrip had also outperformed the market in past one quarter, jumping 76.49% as against Sensex's 5.65% fall.

The small-cap company has equity capital of Rs 274.93 crore. Face value per share is Re 1.

Lanco Infratech's gross revenue before eliminations rose 96% to Rs 3493.40 crore in Q2 September 2015 over Q2 September 2014.

Udupi has been removed from FY 2015 results to have better comparison, as Udupi was sold during current year, Lanco Infratech said.

Lanco Infratech's adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) rose 300% to Rs 1181.60 crore in Q2 September 2015 over Q2 September 2014.

Meanwhile, Lanco Infratech said that Lanco Anpara Power - 1,200 MW (LAnPL) one of the step-down subsidiary of the company received tariff order from Uttar Pradesh Electricity Regulatory Commission (UPERC) to compensate for changes in RFP/PPA conditions in respect of coal supply and power purchase payments.

Lanco Infratech is one of the India's largest integrated infrastructure developers in India. The company has subsidiaries and divisions across a synergistic span of 5 business verticals viz. EPC, power, natural resources, solar and infrastructure.

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