Madhucon Projects spurts after stellar Q3 earnings

Madhucon Projects spurted 13.39% to Rs 41.50 at 13:05 IST on BSE after net profit galloped 882.18% to Rs 17.09 crore on 142.51% growth in total income from operations (net) to Rs 431.03 crore in Q3 December 2014 over Q3 December 2013.

The Q3 result was announced during market hours today, 16 February 2015.

Meanwhile, the S&P BSE Sensex was up 111.01 points or 0.38% at 29,205.94.

On BSE, so far 2.29 lakh shares were traded in the counter as against average daily volume of 57,551 shares in the past one quarter.

The stock hit a high of Rs 43.80 and a low of Rs 38.50 so far during the day. The stock had hit a 52-week high of Rs 52.30 on 13 June 2014. The stock had hit a 52-week low of Rs 10.45 on 21 February 2014.

The stock had outperformed the market over the past one month till 13 February 2015, surging 10.74% compared with Sensex's 6.09% rise. The scrip had, however, underperformed the market in past one quarter, sliding 0.27% as against Sensex's 4.13% rise.

The small-cap company has equity capital of Rs 7.38 crore. Face value per share is Re 1.

Madhucon Projects is engaged in execution of infrastructure projects, such as construction of national highways, fly-overs, dams, tunnels, aquaducts, bridges, coal handling plants, workshops property development projects including high rise structures, hospitality and retail industry structures etc. and enjoying substantial non-fund based limits in the form of bank guarantees with banks under multiple banking arrangements.

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